From a partnership with Imperfect Foods to an expansion in Canada, Hooray Foods’ plant-based bacon has been making waves in the food industry. Now furthering the reach of this innovative product, Hooray has closed a seed extension investment of more than $2.7 million.
“Changing what we eat, specifically reducing consumption of animal proteins, is the easiest step anyone can take to help slow climate change. Hooray is here to make this transition joyful and delicious,” said Hooray Foods Founder Sri Artham. “We’re so grateful to have investor support to ensure consumers have access to plant-based options that are just as good as the real thing.”
New strategic investors include David Hoffmann, the former Chief Executive Officer of Dunkin’, and Lyra Growth Partners, with additional participation from existing investors, including Evolution VC Partners, Gaingels, and Sand Hill Angels.
“I look forward to guiding Hooray Foods as they continue to expand,” said Hoffmann. “After witnessing the national appeal of meat alternatives in my previous roles at high-profile fast food brands, I am confident Hooray’s plant-based bacon will become a must-have on the menus at thousands of quick-service restaurants and sit-down establishments.”
As Hooray continues to see rising demand for its plant-based bacon, the seed extension will allow the brand to scale production. Since launching a year ago, Hooray Foods has sold more than two million strips of bacon, expanded nationwide at Whole Foods Market, and much more.
A press release noted that Hooray Foods will also use the seed funds to launch an improved version of its plant-based bacon next year. The funds will also support further development in new products of Hooray’s proprietary emulsion-forming technology, which has been crucial in setting its bacon apart from other meat-free bacon products and allowing for a replicated flavor and texture of real bacon.
“It is exciting to see Hooray’s bacon be so embraced by consumers seeking healthier alternatives to animal products, as evidenced by the rapid growth since launch just a year ago to almost 1,000 stores in which the product is available,” said Gregg Smith, Founder of Evolution VC Partners.
Congratulations to Hooray Foods on this exciting seed investment!