Publications

- May 1, 2021: Vol. 8, Number 5

No beef with this concept: Plant-based food startup raises $335 million

by Andrea Zander

Livekindly Collective, a group of plant-based protein brands and a media platform, has raised $335 million, making it one of the sector’s highest funded startups, and one of the fastest-growing plant-based food companies. The plant-based food market is projected to account for a quarter of the meat market by 2040.

The latest funding round was led by The Rise Fund, a global impact fund founded in 2016 by TPG in partnership with U2 front-man Bono and tech billionaire Jeff Skoll.

The additional funding will scale the company to target more regions, including the United States and China.

Since inception in 2020, the company has raised $535 million; acquired South Africa’s Fry Family Food Co., Germany-based LikeMeat, Sweden-based Oumph and Iceland’s No Meat; and partnered with Puris Holdings for research on growing protein-rich crops and reducing waste in the manufacturing process.

In other news in the sustainable food and plant-based food sector, Eat Just has secured $200 million in a new funding round led by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, and was joined by private investment firm Charlesbank Capital Partners and Vulcan Capital, the investment arm of the estate of Microsoft co-founder and philanthropist Paul Allen.

 

Andrea Zander is website content editor at Institutional Real Estate, Inc.

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