Plant-based provider Nowadays is well on its way to its goal of commercializing its chicken innovation with a recent $7 million investment round. Following a Seed round, the company has raised just short of $10 million to date in support of its goals, including the scaling of its proprietary whole-cut technology platform and the expansion of its distribution.
The Seed round was led by Stray Dog Capital, with strategic support from Standard Meat Company, a fourth generation privately owned meat processing and packaging company that supplies national restaurant chains, supermarkets, and club stores, a press release explained.
“At Standard Meat, we are constantly looking ahead to the future, bringing innovation to every aspect of our business. Today, that means investing in and supporting Nowadays and their plant-based meats that will deliver the nutritional benefits flexitarians are craving,” said Standard Meat Chief Executive Officer and Co-President Ben Rosenthal. “We know that consumers want a variety of quality protein choices, and we are looking forward to lending our operational expertise and culinary credibility as Nowadays scales manufacturing and launches new products.”
Nowadays currently offers crisply plant-based chicken nuggets that have a classic fried chicken taste and texture but are made with only seven simple and sustainable ingredients. This recent support from an established meat manufacturer validates the plant-based purveyor’s approach to creating whole cuts and brings Nowadays closer to its vision of accessible plant-based options for mainstream consumers across the country.
Using its latest round of funding, Nowadays will launch additional products, including a plant-based chicken cutlet with a similar nutritional profile to its nuggets, which will be made available this summer on its website for national shipping and in select restaurants across the country. Nowadays’ funding and strategic support will also allow it to expand its distribution in foodservice and launch into retail, including Whole Foods Market, later this year.
What’s next for Nowadays and its growth? Stick with Deli Market News to find out.