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July 19, 2021

More funds for alt-meat firm Nature’s Fynd

The US firm, developing alternatives to meat and dairy products using microbial fermentation, will look to up capacity as it readies an international push.

Nature’s Fynd, the US start-up making alternatives to meat and dairy products using microbial fermentation, has attracted more investors.

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Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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The Chicago-based firm said today (19 July) it had closed a Series C funding round worth US$350m.

In a statement, Nature’s Fynd said the new funds meant it had pulled in more than $500m from investors.

The Series C round was led by SoftBank and also saw new investors including Blackstone, Asian investor EDBI and South Korean conglomerate SK Inc.

Nature’s Fynd said the new funds would help “accelerate” its growth, including efforts to expand its production capacity and broaden its product portfolio.

The company is making foods containing a fungi protein which it has called Fy. Nature’s Fynd says Fy comes from a microbe originally discovered in the geothermal springs of Yellowstone. The firm claims the fermentation technology uses a fraction of the land and water used in traditional agriculture.

“The successful launch of our Fy Breakfast Bundle with Original Meatless Breakfast Patties and Dairy-free Cream Cheese earlier this year – which sold out in 24 hours – clearly showed that we can meet our consumers’ expectations for delicious meat and dairy alternatives with no trade-offs,” Thomas Jonas, the CEO and co-founder of Nature’s Fynd, said. “In the past year, we also showed that we can grow Fy at commercial scale leveraging robotics and automation in our new state-of-the-art facility in Chicago’s historic Union Stockyards.”

Nature’s Fynd expects to launch its meatless and dairy-free products, containing the Fy ingredient, in “selected retailers later this year”.

Jonas said the business was looking to “create multiple brand-aligned partnerships for retail, quick-serve restaurants and emerging high growth channels”.

He added: “In 2022, we will bring our branded Fy-based foods to consumers in the US, expand to new geographies with a special focus on Asia where there is substantial demand and need for sustainable protein.”

Among the early investors in Nature’s Fynd have been Danone and US agri-food group ADM.

Just Food analysis: The fermentation flurry in plant-based meat

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Free Report
img

Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
  • Understand the current market dynamics of the Meat and Meat Alternatives Sector
  • Assess strategies implemented by companies to better penetrate the market
  • Understand the key themes in the market that these companies and their respective products appear to be targeting
  • Marketing / Advertising strategies being used by these players for specific products
  • Other segment-specific analysis (packaging, design, flavors etc.)
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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