Meati, a mushroom-based startup headquartered in Boulder, Colorado, just raised $50 million. Much of the funds from its recent Series B will go toward completing construction on an 80,000-ft2 production plant, which will soon produce millions of pounds of Meati in time for a commercial launch in 2022. To produce its protein, Meati uses fermentation.
CEO and cofounder Tyler Huggins: “Ultimately, we’re introducing a whole new type of food, a whole new type of protein. I want to do this the right way. I want to bring people to the proverbial meat table and have a conversation.”
The round was led by Acre Venture Partners and a new investor, BOND, which is the venture capital firm cofounded by longtime Midas List honoree Mary Meeker. BOND is the first female-founded and female-led venture to cross the billion-dollar threshold. Prelude Ventures, Congruent Ventures and Tao Capital also participated in the funding round.
Source: forbes.com
