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.