Venture Capital: Brazilian Meat Substitute Startup Future Farm Raises $58M
Future Farm is currently valued at over $400 million.
Future Farm, a Brazilian startup that makes plant-based protein having the taste and texture of real meat, has raised $58 million in a Series C funding round co-led by BTG and Rage Capital. Existing investors also participated, including Monashees, Go4It Capital, Turim MFO and Enfini Ventures, along with new investor XP Inc. (TechCrunch)
As on date, Future Farm has raised a total capital of $89 million to execute on its plans to disrupt the animal-origin meat industry by getting people to appreciate the benefits of eating plants versus animals.
Climate- and animal-friendly
The startup was founded in 2019 and its first version of a meat substitute that could match real meat was developed in a Domino’s Pizza factory.
According to the company, the meat industry is one of the biggest contributors to global warming. Methane gases from the livestock industry can be up to 34 times more potent than the carbon dioxide emitted by vehicles.
“Plant-based meats are not only a more humane alternative to meat from factory farms, but can also greatly reduce the impact of climate change,” says Future Farm. “That is why we at Future Farm believe that plant-based meat is the meat of the future.”
It currently offers four products: Future Burger, Future Meatball, Future Beef, and Future Sausage. However, it has plans to add plant-based milks and dairy substitutes to its product range.
Its revenues are growing at 960% annually in Europe, but Future Farm intends to expand in more countries and markets beyond its 10,000 points of sale in 24 countries.
Related Story: Plant-Based Meats Producer Impossible Foods To Raise $500M
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