Growth is on the horizon for one plant-based provider, as Meati Foods, the name behind the delicious alternative proteins brand Eat Meati™, recently secured $150 million in a Series C investment round. With this generous contribution, the industry pioneer will expand its operations and accelerate the production of its whole-food proteins made from mushroom root.
"The continued growth and momentum that Meati is experiencing underscores how differentiated and scalable our products and vision are," said Meati Foods Chief Executive Officer and Co-Founder, Tyler Huggins. "Revolution Growth and our new and existing investors bring not just the financial firepower and ethos alignment, but deep and diversified expertise that will be instrumental in building a brand and organization that will truly change how people eat in a way that's better for our bodies and better for our planet."
This lucrative funding round was led by Revolution Growth, with participation from existing and new investors, including Grosvenor Food & AgTech, Canada Pension Plan Investment Board (CPP Investments), Wellington Management, and Cultivate Next, Chipotle Mexican Grill's new venture fund.
The investments will be utilized to support the completion of Meati Foods' over-100,000-square-foot Mega Ranch in Thornton, Colorado, which will begin shipping products in late 2022.
"Meati is poised to be the leader in this large and growing category with a capability to produce plant-based meats in whole-cut form with a clean ingredient list. The company is meeting an unmet demand for products that are delicious, healthy, and good for the planet. We're thrilled to partner with Tyler and the full team as the company expands its production and tackles real-world issues of food security and sustainability," said Fazeela Abdul Rashid, a Partner at Revolution Growth who is joining the Board of the company.
The company will also be harnessing these investments to continue its rapid growth, with eyes on achieving a national omnichannel footprint by the end of 2023 and diversifying its portfolio. In addition, Meati Foods will be breaking ground on its first "Giga Ranch," which is a single ranch capable of producing hundreds of millions of pounds annually, according to a press release.
Read more about this recent funding round here.
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