Last Week in Foodtech – Week Of March 25

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There is so much innovation happening in the food and beverage world today that it’s often hard to keep up. That’s why each week we’ll be bringing you highlights of the latest research and developments in food technology, new products, and food and beverage trends affecting the industry in Canada. 

Here’s a few stories you should know about: 

UK-based startup Nukoko has developed a technology to turn locally-produced faba beans (also known as fava or broad beans) into cocoa-free chocolate powder for use in bulk chocolate product formulation. 

  • Like cocoa beans, faba beans contain vicilin, a key flavour component of chocolate. Other beans also contain vicilin, and the company is researching how their technology could be used in other regions with locally-produced plants. 

  • The faba beans undergo a controlled fermentation process, followed by a controlled drying process, before being roasted and ground into powder. Nukoko says when mass produced the product will be a much more sustainable and cheaper alternative to traditional chocolate powder. 

  • The cocoa production industry has been plagued with concerns about human rights violations, deforestation, and a high carbon footprint. Cocoa prices have also soared in recent months. 

The Canadian Impact: Canadian suppliers are focused on developing and sourcing food and beverage ingredients that are local, sustainable and eco-friendly, especially as climate change threatens to continue to push up prices of ingredients like cocoa and coffee. 

 

Washington, DC-based startup Proxy Foods has raised $2.3 million in funding for its recipe formulation AI solution. 

  • The company provides AI technology for the food and beverage industry, and says its AI platform can help food manufacturers solve complex flavour and nutrition challenges when developing products. 

  • The company’s platform uses AI and precision analytics, as well as market demands such as consumer interest in sustainable food solutions, better nutrition, and animal welfare. 

  • Proxy Foods say the new tool will be available for use by R&D teams, food scientists, product developers, chefs, alternative protein startups and other companies hoping to streamline complex R&D processes. 

The Canadian Impact: Canadian companies like Savormetrics are leveraging AI for a wide range of uses.  

For more on the topic on YODL: Company Profile – Cronometer Software 

 

Grocery retailers are experimenting with new technology to make self-checkout and “no checkout” systems easier and more convenient for customers to use. 

  • Grocers are increasingly using technology such as computer vision, palm recognition, scan-and-go technology, and smart carts to make it easier for shoppers to checkout, while ensuring products are less prone to theft. 

  • Fully automated systems using AI-driven cameras are now being used in some stores, which allow shoppers to leave with their purchases without scanning products. 

  • Some retailers are offering buy now pay later arrangements through third-party payment systems which allows for payment installments on purchases over a specific amount of money. 

The Canadian Impact: Regardless of the technology, Canadian shoppers want more efficient, faster and convenient shopping options. A recent KPMG study called The future of seamless commerce in Canada - KPMG Canada shows that retailers are looking at seamless commerce to create a consistent experience both in-store and online. 

For more on the topic on YODL: IN30: Cashless Grocery