nestle backed sundial foods shuts down sells intellectual property to european firm

Sundial Foods, a startup based in California that specializes in alternative meats, has recently ceased operations and sold its intellectual property to a large European food company.

Sundial Foods gained recognition for its innovative protein-structuring technique and introduced plant-based chicken wings made from chickpeas, sunflower oil, and nutritional yeast. These wings, available in select restaurants in New York and San Francisco in 2022, featured a distinctive protein-lipid film that resulted in a crispy edible skin.

Despite participating in the Nestlé R&D Accelerator program and securing funding, the startup encountered challenges in the fundraising environment, leading to the decision to partner with a larger company that possesses the necessary resources and distribution network to further advance its technology.

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