Agrifood Tech | September 16, 2020

Food startups NotCo and Climax Foods raise financing for plant-based alternatives

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, September 16 – Chile-based NotCo uses machine learning and artificial intelligence to identify plant-based proteins as substitutes for animal-based food products. NotCo secured $85 million to expand its alt-meat and dairy product line to the U.S. 

The company raised $30 million last year for its line of plant-based mayonnaise and ice cream. 

Meanwhile, San Francisco-based Climax Foods likewise uses machine learning and AI for its line of plant-based alternatives, starting with cheese. The company, started by former Impossible Foods and Google researchers, raised $7.5 million.

In other food finance news, Baltimore’s produce delivery service Hungry Harvest picked up $13.7 million from Creadev, Danone Manifesto Ventures, Quadia and Maywic Select Investments to prevent food waste, Axios reports.