ESG & Investing

Bezos-Backed Food Startup NotCo Bucks Trend to Raise $70 Million

Plant-based food co. raises $70 million in series D extension
Princeville Capital, Jeff Bezos, Tiger Global among investors

Matias Muchnick, founder and chief executive officer of Not Company, in New York, US, on Monday, Oct. 24, 2022.Photographer: Gabby Jones/Bloomberg

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By Carolina Gonzalez

December 12, 2022 at 11:30 AM UTC

This article is for subscribers only.

NotCo, a Chilean plant-based food startup backed by Jeff Bezos’ family office, secured an additional $70 million of funding to grow in co-branded alliances with other food giants. The company is bucking a trend in Latin America where venture capital has dried up amid rising interest rates.

Princeville Capital led the new funding round with Bezos Expeditions, Tiger Global, L Catterton, Kaszek Ventures and MercadoLibre CEO Marcos Galperin as other participants, according to a statement. NotCo raised the funds at the same price of its Series D round in July 2021, reaffirming its $1.5 billion valuation.