The Checkout: Waka Coffee & Tea Secures Funding; Cell-grown Cocoa Maker Partners With CULT Food Science Corp

Welcome to The Checkout: an express lane for the weekly news you need to know, always 10 items or less.

Instant Coffee and Tea Maker Jumpstarts Growth With Pre-Seed Funding

Waka Coffee & Tea announced the closing of a $725,000 pre-seed round with participation from industry veterans from Bee Cave Capital and Chaucer Global and Scott Jensen, Founder and CEO at Rhythm Superfoods, among others.

The brand also plans to introduce a refreshed design and new packaging, as well as launch three new products – Ethiopian Dark Roast, Ethiopian Light Roast and Papua New Guinean Medium Roast – available in single serve and bulk formats.

“Coming from one of the biggest coffee companies in the world, I believe Waka has all the right ingredients and momentum to become one of the leaders in the instant space. I couldn’t be more excited to support them on their journey,” said Joe Canterbury, former Starbucks executive, founder of Chaucer Global and Waka Investor, in a press release.

This is the first time the instant coffee and tea maker has taken outside funding, which it said will go towards further expanding its team and product lineup, and to reach new distribution channels. Founded in 2018, Waka Coffee and Tea has performed strongly on Amazon and recently expanded into brick and mortar retail with Central Market in Texas and online internationally with iHerb.

“Most consumers in the U.S. have only interacted with legacy brands in the space that often pale in comparison to large specialty and premium coffee retailers,” said founder David Kovalevsk, in a press release. “This presents an incredible opportunity for Waka to create a strong connection with consumers who are looking for a viable option in the instant coffee and tea categories, and we are already seeing massive spikes in interest and adoption for home, office, and on-the-go.”

California Cultured Receives Investment From Food Tech Platform

Investment platform CULT Food Science Corp. announced it has added California Cultured, a food technology company making cell-grown cocoa, to its portfolio of lab-grown food technologies. The terms of the agreement were not disclosed.

The California-based company uses cell culture fermentation technology to produce cocoa products including cocoa powder, chocolate and cocoa butter, allowing it to sidestep concerns surrounding traditional chocolate production such as child labor and deforestation.

“CULT is proud to support such a revolutionary venture that is aiming to be a leading catalyst in changing the global food industry for the better,” said Lejjy Gafour, President of CULT, in a press release. “California Cultured’s innovative, responsible and disruptive pursuit aligns well with our Company’s ethos. We believe cell-cultured cocoa is the next step in the sustainable, safe, and ethical food production of a major global food category.”

CULT Food Sciences primarily invests in innovative start-up, private or early-stage cultivated meat, cultured dairy and cell-based food companies around the world. Its portfolio includes a wide range of cell lines, end products, scaffolding technology, growth medium and intellectual property.

Kodiak Partners With Pro Athletes Joe Burrow, Travis Kelce, Among Others

Better-for-you food maker Kodiak has entered into an agreement with Patricof Co (P/Co), an investment platform for professional athletes, and announced a slate of new athlete investors, including Joe Burrow, Travis Kelce, Sloane Stephens, CC Sabathia, Rudy Gay, Adam Henrique, and several dozen others.

“Through this long-term partnership, we not only have an opportunity to fuel notable players and insiders within the sports world who’ve found their recipe for success, but we are also connecting them directly with our mission to inspire healthier eating and active living,” said Joel Clark, CEO of Kodiak, in a press release.

The Utah-based company was acquired by L Catterton last year and has been focused on expanding its retail presence. This new partnership will allow Kodiak to capitalize on the star-power of these athletes and the company said it will collaborate with these individuals toco-create new food products, marketing campaigns and sustainability initiatives.

“I’ve been a fan of Kodiak products for a long time and excited to officially collaborate with the brand,” said Travis Kelce, tight end for the NFL’s Kansas City Chiefs, in a press release. “Their cakes are high-protein, whole grain, and taste great. I’m looking forward to working with the Kodiak team and collectively bring the brand to even more consumers.”

Ice Cream Manufacturer Recalls Dozens Of SKUs Due To Listeria Contamination

Connecticut-based The Royal Ice Cream Company, Inc. has expanded its recall to include all products manufactured in its facility within their expiry date. These products are stamped with the plant number “CT121” or “CT#121” and include brands such as Batch Ice Cream, Ronny Brook Ice cream, Maple Valley Ice Cream, Giffords, among a dozen other brands.

The contamination was first detected on the company’s processing equipment earlier this month following sample testing conducted by the FDA. No illnesses have been reported but the agency has stated that infection can cause miscarriages and stillbirths among pregnant women and be fatal for young children and the elderly.

The FDA is currently investigating the cause of the outbreak and said that the affected ice cream was distributed in retail stores across the Northeast, Louisiana, Florida and Texas.

Among the recalled products is Massachusetts-based ice cream brand Batch which manufactures all of its SKUs through Royal.

“The production facility is going through a complete review and overhaul of safety procedures to ensure this does not happen in the future,” Batch stated in a Facebook post. “Production has been halted until this process is completed. Until then the shelves will be sparse… Please know that none of our product has ever tested positive for any bacteria. We are devastated that this has happened. We are praying that our small family business will be able to weather this storm and thank you all for your continued support.”