Good Food Institute Executive Director says the meat giant’s investment in the cell-based meat company will accelerate the sea change in global meat production.
Cargill participated in Aleph Farms' Series A funding round, which raised $11.65 million for the cell-based steak producer. Jon Nash, president of Cargill Protein-North America, said, "We have a responsibility to look at all innovations that can help us feed the world."
This is the largest fundraising round for a plant-based meat company in history, bringing Impossible Foods' total funding to $750 million and market valuation to $2 billion.
Good Food Institute Executive Director says the company’s $300 million fundraising gain is the largest for a plant-based meat company in world history.
New reports released by The Good Food Institute (GFI) reveal that 2017 and 2018 were record years for investment in plant-based meat, egg, and dairy and cell-based meat companies.
Thirteen billion dollars were invested in U.S. plant-based meat, egg, and dairy companies in 2017 and 2018 alone. Eleven cell-based meat companies were founded in 2018.
Plant-based Mexican food is the next big flavor trend. In April alone, Chipotle, Taco Bell, Del Taco, and QDOBA spiced up their menus with new plant-based options.
Good Food Institute Executive Director commends Beyond Meat for its leadership, says the company’s IPO will drive sales and boost the availability of plant-based meats to meet increasing consumer demand.
The plant-based meat maker offered 9.625 million shares at $25 apiece, raising roughly $241 million.
The biggest fast-food chains are taking note of the incredible consumer demand for plant-based options, and upgrading their menus accordingly.
