Agrifood Tech | July 14, 2020

Animal-free proteins are growing revenues and raising capital

Dennis Price
ImpactAlpha Editor

Dennis Price

ImpactAlpha, July 13Companies producing animal-free proteins are growing revenues and raising capital.

The food-tech firm Perfect Day raised $300 million to produce animal-free dairy proteins, including a $50 million investment from Canada Pension Plan Investment Board’s investment group Thematic Investing.

Alternative-meat company Nuggs, now rebranded as Simulate, raised $4.1 million to launch a product line of animal-free nuggets, chicken burgers and hot dogs. New investors include AgFunder, Lerer Hippeau, Reddit’s Alexis Ohanian, model Jasmine Tookes and Walter Robb, the former Whole Foods co-CEO. 

Supermarket giant Krogers boosted meat-substitute sales by 75% in recent months, in part by moving products from the refrigerated food sections of its stores to the meat section.