Nature’s Fynd has announced a $350 million in a series C financing that brings the company’s total to over $500 million.
The team of food scientists create meat and dairy alternative products, using a fungi protein called “Fy”; created with a unique fermentation technology, which uses only a fraction of the land, water and energy required by conventional agriculture.
The round was led by SoftBank’s Vision Fund 2 and joined by new investors including Blackstone Strategic Partners, Balyasny Asset Management, Hillhouse Investment, EDBI, SK Inc. and Hongkou with continued support from existing investors.
Chief Marketing Officer Karuna Rawal explained that their protein results in massive sustainability solutions since the fungi has an impressive reproduction rate and its protein “FyTM” can be produced 365 days a year; generating a high volume of nutrient dense food in just a fraction of the time as traditional agriculture.
Thomas Jonas, CEO of Nature’s Fynd, commented: “We know consumers today expect great tasting meat and dairy alternatives without compromising on health or sustainability. And Fy – our natural, complete vegan protein delivers on all fronts: amazing taste and texture while being healthier for people and gentler on the planet than traditional proteins. 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.
“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 […] 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 and create multiple brand-aligned partnerships for retail, quick-serve restaurants (QSR) and emerging high growth channels.”