US-based Rebellyous Foods, which makes alt-meat products using plant-based ingredients, has raised US$6m in an investment round.
The Seattle-based company was backed in a Series A funding round co-led by Clear Current Capital, Fifty Years, and Liquid 2 Ventures. Other funders include Agronomics and Vulcan Capital, the investment arm of Vulcan Inc., the company founded by Microsoft co-founder and philanthropist Paul Allen.
Rebellyous Foods is both a food product manufacturer and a technology innovator. It is said to be “developing innovative production technology specific to the plant-based meat industry”.
The company, which was founded by Christie Lagally, a former Boeing engineer, said it will use this investment to “accelerate its development of replicable, novel equipment and standardised facilities, fast-track its manufacturing scale-up, immediately hire equipment and mechanical engineers at its Seattle research facility and expand product development to broaden its portfolio,” which is currently based around plant-based nuggets.
Lagally, the company’s CEO, said: “Bird flu, swine flu, and now Covid-19 demonstrate that keeping large numbers of animals in close contact with one another presents a tremendous risk for global health.
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“However, to transition away from our heavy dependence on meat, it’s critical that we make plant-based meat affordable and widely available through innovative production technology. At Rebellyous, our mission is to make plant-based meat that is better than animal meat in every way, from price and convenience to taste and nutrition.”
As a part of the investment round, Rebellyous has added Ela Madej, founding partner at Fifty Years, to its board.
Madej said: “It’s our mission at Fifty Years to partner with companies solving the world’s biggest problems. We have been Rebellyous’ early supporter and I can’t be more excited to join the company’s board.
“We need a pandemic-proof food system that can meet the nutritional needs of our growing human family. We’re also happy to support job creation in a time when many other businesses are having to lay off workers.”
