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21 JULY 2022
Grosvenor Food & AgTech has invested in Meati Foods, producers of clean-label meat alternatives made from mushroom root – which has similar characteristics to muscle tissue so can be formed into any shape, texture and flavour and compares to meat in protein content while being higher in fibre and containing no cholesterol.
The investment is part of a $150 million Series C funding round which will help Meati Foods, creators of Eat Meati™, to expand production and accessibility of its products as they aim to become the U.S. market share leader in alternative-meat by 2025.
Katrin Burt, Managing Partner, Grosvenor Food & AgTech said: “Meati™ share our vision to build a better food system that can positively influence our health, our planet’s ecosystem and our climate. We are excited by the company’s plans to scale up production, enabling more people to access healthy, nutritious foods, at a time when the cost of living is increasing around the world.”
Meati™ can grow whole food protein without animals, using a fraction of the land and water compared to animal protein production and requiring fewer resources than other meat alternatives on the market today.
Meati™ has distanced itself from an ever-crowded category through its standard-setting product composition of at least 95 percent mushroom root, earning its whole-food distinction. The products are considered unprocessed and offer unmatched nutrition within the protein category.
A serving of Meati’s whole-cut meats delivers 17 grams of complete protein (33 percent of the daily recommended amount, according to the US FDA) and 12 grams of dietary fibre (42 percent of the daily recommended value), along with micronutrients including 45 percent and 90 percent of the recommended daily intakes of zinc and vitamin B12 (riboflavin).
“The continued growth and momentum that Meati is experiencing underscores how differentiated and scalable our products and vision are,” said Meati Foods CEO and co-founder, Tyler Huggins. “We are looking forward to expanding with more supply, more mind-blowing products and more accessibility for consumers.
“Our new and existing investors bring not just the financial firepower and ethos alignment, but deep and diversified expertise that will be instrumental in building a brand and organization that will truly change how people eat in a way that’s better for our bodies and better for our planet.”
The funds will support the completion of the company's more than 100,000-square-foot Mega Ranch in Thornton, Colorado, a facility that will begin to ship product in late 2022, ultimately producing tens of millions of pounds of product annually. Additionally, the company will continue its rapid growth, including a national omni-channel footprint by the end of 2023, diversification of its product portfolio, as well as breaking ground on the company’s first “Giga Ranch”, designed to be the production facility that will be replicated domestically and globally, with a single ranch capable of producing hundreds of millions of pounds annually.
Meati is available online and at several restaurants throughout Colorado and Arizona, US.
Learn more at www.meati.com.
Public Relations and Communications Manager
+44 (0)1244 684400