Deals
Faux-Meat Protein Maker Raises $21.5 Million for New Factory
- Kellogg fund, Astanor Ventures invest in Plantible Foods Inc.
- Company hopes to replace eggs as ingredients in baked goods
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A San Diego-based startup that’s developing a protein for use in imitation meat and egg products has received $21.5 million in funding to build its first commercial facility.
Plantible Foods Inc. is growing and harvesting a crop commonly known as duckweed, and plans to first develop an egg white substitute before expanding to other animal products. Investors in the Series A funding round include Kellogg Co.’s venture-capital fund, Astanor Ventures and Piva Capital Inc.