Indoor Farming, Retention Woes, Hefu-Noodle Raise, Zomato IPO, NYC Outdoor Dining Extended
Daily Digest
Restaurants, food retailers head indoors for produce amid water shortages and food security concerns (Fox Business) Indoor farmers say it’s a more stable and secure food supply chain.
Restaurant workers are quitting like crazy (Yahoo Finance) The big takeaway from industry-level data is that competition has basically never been stiffer for staffing up a restaurant.
CMC Capital leads $124m Series E round for Chinese restaurant chain operator Hefu-Noodle (Deal Street Asia) Hefu-Noodle, which began operations in 2013, has grown into a nationwide network consisting of over 340 restaurants by the end of June 2021.
Zomato launches $1.25bn IPO to capitalise on order demand surge (Financial Times) Food delivery group targets $8bn valuation and looks set to lead wave of tech offerings in India this year.
Cuomo Extends Relaxed Outdoor Dining Regulations for Another Year (NBC NY) New York City has already adopted outdoor dining into a separate permanent program called Open Streets.
Plus…
BoFB’s Chuck George caught up with Sabina Garcia, Co-Founder of Global Food Partners, on going cage-free.