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April 14, 2020

Alt-meat firm Rebellyous Foods receives millions in funding round

US-based Rebellyous Foods, which makes alt-meat products using plant-based ingredients, has taken part in a funding round.

By Leonie Barrie

US-based Rebellyous Foods, which makes alt-meat products using plant-based ingredients, has raised US$6m in an investment round.

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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.

“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.”

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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