US meat-free products supplier Beyond Meat is to use the latest round of investment in the business to fund production capacity and innovation.
A spokesperson told just-food the financing was necessary as demand for Beyond Meat's product was growing.
Go deeper with GlobalData
"The new financing will fund even greater innovation to continue Beyond Meat's pursuit of re-creating meat from plants. The round will also help Beyond Meat expand consumer awareness and increase capacity at the company's manufacturing facility to meet surging demand for its products," she said.
The firm's meat-free range is available in 4,000 retailers across the US and comprises products including chicken-free strips, and beef-free crumbles.
New investors include DNS Capital, representing the business interests of US billionaire Gigi Pucker, Taiwan's Tsai Family, through its family office, WTT Investment and S2G Ventures.
Existing investors including Bill Gates, Honest Tea founder Seth Goldman, venture capital firm Kleiner Perkins Caufield & Byers, and investment vehicle The Obvious Corporation, which was set up by Twitter founders Evan Williams and Biz Stone, also participated in the round.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBeyond Meat refused to disclose information about changes to current shareholder stakes. "We are not releasing specific information about the financing round or how much investors have committed," it said.
