Startups build new products. It's the way of the world. Their innovative ideas, skilled teams, and eccentric founders look at industry trends and create something new that has never been conceived of before. However, when it comes to the food and beverage industry, startups are less about creating and more about perfecting. After all, it's hard to invent a new kind of hamburger, but making a better one is just a few ingredients away.
While food and beverage companies don't fit the mold of the everyday startup, these titans of tasty are just as entrenched in the process as any other company looking for employees, seeking media attention, and, most importantly, pursuing capital. And if you're wondering which startups are doing the best around the country, CB Insights has done the heavy lifting for you.
That's right, the popular data website has used their immense power to calculate the most well-funded food and beverage startups in every state. There were a number of meaningful takeaways from the data, including the fact that New York houses the most well-funded food and beverage startup in the whole country with All Market.
“All Market has a long fundraising history, starting with a seed round back in 2006, and progressing to a $165M investment in 2014 by the Reignwood Group (the parent company of Red Bull China) which valued All Market at $665M. Overall, All Market has raised $208M,” wrote the author of the report.
There are other notable takeaways from the report, like the fact that California houses the second most well-funded food and beverage startup in cold-pressed juice brand Suja Juice. There are also a number of states absent from the list, including the Nevada, Alabama, and the Dakotas, as there food and beverage industry is most well-established and less startup-y.
If you're interested in the food and beverage startup ecosystem and want to see what startups are raising, check out the infographic and list below to get a good idea of which companies are changing your meals and drinks for the better.