fbpx
Print this page
Wednesday, 24 April 2024 10:25

Bubble burst!

Written by  The Hound
Bubble burst!

OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in the process of shutting down.

Sunfed’s founder and chief executive Sukul Lee conceded that the “plant-based bubble” had burst and investors were no longer keen to support the company.

The business started in 2015 and aimed to provide ‘nonmeat alternatives’.

However, Lee admitted it had not been able to move to a position where it had a positive cashflow.

Venture Capital investors started to pull back and existing venture capital investors were no longer interested in supporting the business.

Lee also conceded that investors had jumped into a “plant-based gold rush” thinking they would see valuations increase quickly.

She said the “plant-based bubble” had now burst and the category was “undergoing a reality check”.

Who would have picked this happening?

More like this

Make it 1000%!

Make it 1000%!

OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of 125% on the US, up from the 84% announced earlier.

Own goal

Own goal

OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.

No more pines!

Forests planted for carbon credits are permanently locking up NZ’s landscapes, and could land us with more carbon costs, says the Parliamentary Commissioner for the Environment (PCE).

Group hug!

OPINION: Forest & Bird and farmers don't often find themselves on the same side of an issue, with F&G's litigious tendencies often pitting the two groups against each other.

Risky business

OPINION: In the same way that even a stopped clock is right twice a day, economists sometimes get it right.

Popular Reads

Featured

Taranaki dairy farms saved by $10/kgMS payout

Only this season’s $10/kgMS bumper payout has saved some dairy farms along the Taranaki coast from absolute disaster due to the present drought – dubbed as one of the worst ever for some.

National

Helping protect sheep from parasites

Everyone from experienced veterinarians and young professionals to the Wormwise programme and outstanding clinics have been recognised in this year’s…

Machinery & Products

Farmer-led group buys Novag

While the name and technology remain unchanged and new machines will continue to carry the Novag name, all the assets,…

Buhler name to go

Shareholders at a special meeting have approved a proposed deal that will see Buhler Industries, the publicly traded Versatile and…