Wisconsin is home to national food and beverage brands such as Hillshire Farm, Sargento and Schoep’s Ice Cream. The state also features several aspiring startups that produce f&b products or service their industries. Here’s a look at a few that have been making the news recently.
Bright Cellars Recently Raised $11.2 million
Bright Cellars raised $11.2 million in Series B funding in a round that was led by a venture firm founded by a former McDonald’s CEO. This brought the total amount that the company has raised to $26 million. Bright Cellars, based in Milwaukee, is a monthly subscription box that delivers hand-selected wines to subscribers based on their taste preferences.
Fork Farms Raised $2 million in Series A
Fork Farms LLC, creators of a vertical hydroponic farming system, raised $2 million in a Series A round led by Titletown Tech. The Green Bay-based startup said it will use these funds to expand its capital, hire more employees and develop new products.
Satori Food Project Created Coffee Pods to Improve Mental Health
Milwaukee-based startup Satori Food Project, Inc. designed coffee pods to provide anxiety relief that can be made in a Keurig machine, and it raised $125,000 in its first fundraising round. Investors include the National Science Foundation and Global Capital Group of Milwaukee. Founder Kwadwo Owusu-Ofori is seeking to hire more staff as the company increases sales and secures a clinical research grant. Pods are available on Amazon.
Read more: https://www.bizjournals.com/milwaukee/inno/stories/profiles/2021/05/20/the-pitch-satori-foods.html
SoFresh Inc. Won $500,000 at New York Business Competition
Pleasant Prairie-based startup SoFresh Inc. won $500,000 at the Grow-NY business competition. SoFresh developed food packaging materials that would extend the shelf life of foods like bread and fruits. Out of 260 companies that applied, SoFresh was one of the two to receive the $500,000 grand prize.
Agricycle Launched Food Products made with Self-Engineered Solar Dehydration Device
Milwaukee startup Agricycle recently launched Jali Fruit Co., a brand that sells solar-dehydrated fruit grown by 35,000 farmers from across the world. The startup closed a $1.5 million funding round to grow the business. Investors include BrightStar Wisconsin, Wisconsin Investment Partners, Connetic Ventures and a few angels. The startup also recently netted $10,000 for winning the WERCBench Labs Accelerator Demo Day in Milwaukee.
Wisconsin-based Mobile App is Saving 15,700 Products a Day Before They Go to Waste
Pinpoint Software is an application that lets grocery stores monitor expiration dates on their products and donate or discount accordingly. Andrew Hoeft began this venture while working for Festival Foods. It is now used by more than 30 retailers and more than 700 stores across the United States. Pinpoint was just acquired by Applied Data Corporation (ADC) for an undisclosed amount. ADC will provide the software for about 22,000 grocery stores around the world.
