VC fundraising for food & beverages companies
F&B venture has shifted from the DTC-led narrative of 2018-2021 back to the wholesale-led playbook the category has historically rewarded. Capital is available for brands with proven retail velocity, sound trade-spend discipline and a credible path to gross margin after trade.
The investors that matter are the consumer funds with CPG portfolios - CircleUp, L Catterton growth, Forerunner, Lerer Hippeau - alongside specialist F&B funds, and the CVC arms of Nestlé (Inventages and Nestlé venture vehicles), PepsiCo (Hive and PepsiCo Ventures), Mondelez (SnackFutures Ventures), General Mills (301 INC), Unilever Ventures, Mars and Kraft Heinz's Evolv Ventures. They read SPINS or Circana data before they read the deck. Flow has direct relationships across this set.
Flow has experience running VC fundraising processes for food and beverages companies across packaged food, beverages, functional and better-for-you, snacks, frozen and refrigerated, and ingredient and supplement businesses. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Food & beverages" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Net revenue
Gross margin
Trade spend as % of gross
Velocity per door per week
ACV-weighted distribution
Repeat purchase rate
DTC share of revenue
Days inventory outstanding
Advertising as % of revenue
Co-packer cost per unit
Food & beverages valuations in May 2026
Public food & beverages comps trade at 1.0x EV/Revenue. Median revenue multiple across food & beverages VC rounds was 6.7x in the last 12 months.
1.0x
Median EV/Revenue as of May 2026 for public food & beverages companies
7.9x
Coca-Cola is the highest valued public food & beverages company based on EV/Revenue (excluding outliers)
1.2x
Median EV/Revenue across food & beverages M&A deals in the last 12 months
6.7x
Median EV/Revenue across food & beverages VC rounds in the last 12 months
Key recent food & beverages VC rounds
$1.0B Undisclosed stage raised by Global Eggs was the largest food & beverages VC round completed in the last six months.
See all food & beverages VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Mar-26 | Global Eggs |  | Global Eggs is a privately owned holding group engaged in egg production and distribution with emphasis on sustainable practices, food safety, and quality standards. | Warburg Pincus | $1.0B | $8.0B | Undisclosed stage | |
May-26 | Oishii |  | Oishii is a Newark-headquartered vertical farming company producing premium strawberries indoors. The New Jersey-based firm supplies nutrient-dense berries to US supermarkets in packages of eight to 11 fruits priced at $50, leveraging aeroponic technology for year-round cultivation since 2017. | Asahi Kogyosha CoMISUMI Group+3 | $153M | - | Series C | |
May-26 | Landora Group |  | Landora Group develops, manufactures, and supplies ingredients and raw materials to Israel's food industry. | Leumi Partners | $68M | $340M | Undisclosed stage | |
Mar-26 | Lyka Pet Food |  | Lyka Pet Food is a Melbourne-based subscription service delivering fresh, human-grade dog food across Australia. The company formulates customized meals using veterinary nutritionists, sourcing ingredients like grass-fed beef and organic vegetables. Lyka ships nationwide via temperature-controlled packaging and offers a recipe guarantee. Launched in 2019, it serves over 20,000 dogs and maintains a veterinary advisory board for ongoing recipe development. | LGVP | $67M | - | Series C | |
Apr-26 | Lipton | | Lipton is a Englewood Cliffs-based tea brand distributing green, herbal, black, red, and white teas alongside health information resources. Founded in 1890 by Sir Thomas Lipton, the company operates as a Unilever subsidiary, supplying products to retailers across North America and globally. | CVC Capital Partners | $58M | - | Undisclosed stage | |
Feb-26 | The Whole Truth |  | The Whole Truth is a Mumbai-based manufacturer of protein bars and snacks using no added sugar, artificial sweeteners, preservatives, or synthetic flavors, sourcing ingredients like whey protein isolate, dates, and nuts from Indian suppliers. Launched in 2019, it offers bars in flavors such as Belgian dark chocolate and crunchy peanut butter, alongside dry fruit packs of cashews and almonds. Distributed through e-commerce platforms like Amazon India and BigBasket, the brand reaches over 10,000 pin codes nationwide with a direct-to-consumer model emphasizing transparent labeling. | AYRA VenturesJaydeep Barman+6 | $51M | $400M | Series D | |
Dec-25 | KatKin |  | - | - | $50M | - | Series C | |
Feb-26 | GrubMarket | | GrubMarket is a San Leandro, California-headquartered AI-driven B2B ecommerce platform transforming the North American fresh produce supply chain. The company connects 30,000 suppliers and buyers through its marketplace, offering inventory management, logistics tracking, and financing. Operating coast-to-coast, it processes billions in transactions annually for fruits, vegetables, and seafood. Founded in 2016, GrubMarket expanded into Canada and Mexico, deploying blockchain for traceability and machine learning for demand prediction. | Flume VenturesFuture Food Fund+4 | $50M | $3.5B | Series H | |
Apr-26 | First Water |  | First Water is a Reykjavik-based aquaculture company producing Atlantic salmon using land-based recirculating aquaculture systems in Iceland. The facility in Reykjanesbaer generates 10,000 metric tons annually with zero ocean discharge, minimizing environmental impact through geothermal energy and advanced water treatment. Certified by ASC and GlobalG.A.P., its salmon exports to Europe and North America under brands emphasizing sustainability. Launched in 2021 with backing from Icelandic investors, First Water prioritizes antibiotic-free production and full traceability from egg to harvest. | - | $46M | - | Undisclosed stage | |
Nov-25 | Ace International | | Ace International is a manufacturer of dairy ingredients such as skim milk powder, whole milk powder, whey protein concentrates, demineralized whey powder, and lactose. Headquartered in Ahmedabad, Gujarat, the company produces food-grade components for the global food and beverage industry. It supplies milk proteins and powders to manufacturers in confectionery, bakery, infant nutrition, and sports nutrition sectors. Ace International exports products to markets across Asia, the Middle East, Africa, and Europe from its ISO 22000-certified facility. | Fiedlin VenturesFMO+2 | $34M | - | Undisclosed stage | |
Feb-26 | Bon Vivant |  | Bon Vivant is a French biotechnology company employing precision fermentation with yeast to produce plant-based milk alternatives matching dairy in texture and flavor. Founded by Hélène Briand and Stéphane Mac Millan, it targets non-dairy market expansion. | AlvenBlast. Club+5 | $30M | - | Series A | |
Mar-26 | Standing Ovation | | Standing Ovation is a food technology company producing animal-free vegan cheese. London-based, the brand creates dairy-like products using fermentation and plant proteins for mozzarella, cheddar, and cream cheese varieties. Standing Ovation supplies retailers and restaurants across the United Kingdom and Europe with meltable, sliceable cheeses matching traditional textures and flavors. | AngelorAstanor Ventures+9 | $29M | - | Series B | |
Mar-26 | Saltz |  | Saltz is a mobile app connecting consumers directly to suppliers of premium seafood, meat, and produce. Users in U.S. coastal cities access farms, fishing boats, and wholesalers for same-day deliveries of wild-caught fish and grass-fed beef. Launched in 2022, Saltz emphasizes transparency with origin tracking and subscription boxes. | Change VenturesEuropean Bank for Reconstruction and Development+4 | $24M | - | Series A | |
Dec-25 | Founteyn |  | Founteyn is a London-based company developing capsule-based systems for cold brew coffee, nitro beverages, and functional drinks compatible with Nespresso machines. Its cartridges contain whole bean extracts delivering 200mg caffeine per serving with zero acidity. The platform supports B2B distribution to offices and hotels across Europe, processing 1 million capsules monthly. Founteyn sources beans from Colombian and Ethiopian farms and expanded into plant-based milk froth pods in 2023. | APG Asset ManagementFlying Fish Partners+1 | $23M | - | Series A | |
Dec-25 | Locus Fermentation Solutions | | Locus Fermentation Solutions is a Solon-based producer of bio-based surfactants and specialty chemicals from fermented feedstocks, replacing palm oil and synthetics in personal care, agriculture, and oilfield applications. Its products reduce emissions and water use globally. | Hudson Bay Capital Management | $20M | $100M | Undisclosed stage |
VC investors active in food & beverages
FasterCapital is the most active VC investor across food & beverages, having invested in 21 startups in the last three years.
See all food & beverages VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
FasterCapital |  | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | Matt and HewEl Brahim BekayeBH Startup General Enterprises+2 | 21 | Pre-seed | |
Crowdcube | | Crowdcube is an equity crowdfunding platform based in the United Kingdom that facilitates investments in startups and growing businesses since 2011. Investors commit funds in exchange for equity stakes or annual returns, supporting over 520 successful raises totaling more than £230 million from a community exceeding 390,000 participants. Notable campaigns include Monzo's £1 million raise in 96 seconds, alongside River Cottage, Eden Project, JustPark, eMoov, Sugru, and Chip. | ROLEY'sMosa MeatRedemption Roasters+2 | 15 | Pre-seed | |
Fireside Ventures | | - | FruBonCumin CoTroovy+2 | 14 | Seed | |
SOSV | | SOSV is a Princeton-headquartered venture capital firm investing in deep tech startups via HAX hardware accelerator and IndieBio biotech program. The firm supports founders in New York, Shenzhen, and Cork with labs, prototyping facilities, and funding up to seed stage. SOSV portfolio includes companies in robotics, synthetic biology, and climate tech. | The EVERY CompanyFloVision SolutionsxRobotics+2 | 14 | Series A | |
Inflection Point Ventures | | Inflection Point Ventures is a Delhi-based angel investment network connecting over 3,300 CXOs, high-net-worth individuals, and family offices with early-to-mid-stage startups across India. Since its founding in 2018, the platform has facilitated investments in more than 150 companies spanning sectors like fintech, healthtech, SaaS, and consumer brands. It offers startups capital starting from INR 50 lakh per investor alongside mentorship, market access, and due diligence led by industry experts. The network democratizes angel investing through a INR 25,000 annual membership fee and transparent processes, maintaining a portfolio with unicorn representation and exits via acquisitions. | CohomaToffee Coffee RoastersMangoPoint+2 | 13 | Seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | Forti FoodsTint BiotechLocalPasar+2 | 12 | Pre-seed | |
DSG Consumer Partners | | DSG Consumer Partners is a private equity firm investing in consumer brands across India and Southeast Asia. Mumbai-based since 2004, DSGCP takes minority stakes in unlisted companies like Sula Vineyards, Cleartrip, and Veeba Foods, providing growth capital and founder liquidity over 6-10 year horizons. The firm manages a portfolio of 15 investments generating combined revenues exceeding $500 million. | Every Half Coffee RoastersFarmleyAnveshan+2 | 11 | Seed | |
Rainmatter Capital | | Rainmatter Capital is a Bengaluru-based venture fund investing in Indian fintech startups focused on capital markets. It provides $100K to $1M in seed funding, workspaces, and mentorship in exchange for minority stakes, backing companies like Zerodha subsidiaries. | Two Brothers Organic FarmsLo! FoodsMoonshine Meadery+2 | 10 | Seed | |
Agronomics | | Agronomics Ltd is an Isle of Man-based investment firm. The company mainly invests in the nascent industry of modern foods, which are environmentally friendly alternatives to the traditional production of meat and plant-based sources of nutrition. | SuperMeatMeatlyBlueNalu+2 | 9 | Series A | |
V3 ventures | | V3 Ventures is a London-based venture capital firm that backs early-stage consumer brands with scalable, mission-driven models. The firm targets companies in wellness, food, and lifestyle sectors, providing funding and strategic support to accelerate growth. | Dil FoodsEarthfulGo Zero+2 | 9 | Seed |
Founders and investors we've worked with
We've supported winning builders across food & beverages and beyond.
AVE & YOU
We acted as fundraising advisor to AVE & YOU, a Berlin-based beauty-tech DTC brand and personalized skincare platform, supporting its capital raise to fuel growth.
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Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
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Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
See moreRecent VC fundraising track record
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