Venture Capital: LIVEKINDLY Collective Raises $335M, Becomes A Top-Funded Plant-Based Food Company

https://dailyalts.com/wp-content/uploads/2021/03/lk-founders-post-feat.jpeg

The company will use the money to expand its products and marketing reach.

LIVEKINDLY Collective, which is a portfolio of plant-based food brands plus a media platform, and is run by senior executives from the global food industry, announced on Monday its raise of $335 million led by The Rise Fund, the global impact investing platform managed by TPG. This round was joined by existing investor Rabo Corporate Investments, the investment arm of Rabobank, S2G Ventures, and other existing investors. The raise brings LIVEKINDLY’s total funding to date, and within its first year, to $535 million. (BusinessWire)

The startup said the funding also catapulted it into the ranks of the top three highest-funded and fastest-growing plant-based food companies globally.

The meat industry and the planet

According to LIVEKINDLY, the meat industry has a significant and damaging impact on the planet.

Animal agriculture is responsible for up to 33 percent of all freshwater consumption in the world, while livestock takes up almost 80 percent of agricultural land.

Meanwhile, the meat and dairy industries emit 14.5% of the world’s greenhouse gases.

LIVEKINDLY recognizes that the world needs to move to a more sustainable plant-based system. By its estimates, the plant-based meat market could be worth $35.4 billion by 2027.

Plant-based – the future of food

“We are building a global pureplay in plant-based alternatives – which we believe is the future of food,” said Roger Lienhard, Founder and Executive Chairman of Blue Horizon Group and Founder of LIVEKINDLY Collective. “In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents. We believe the momentum behind plant-based living will continue to grow in both the private and public markets.”

The Rise Fund, an arm of the TPG Group, works with growth-stage, high potential, mission-driven companies that have the power to change the world. With over $5 billion under management, Rise offers expertise to help businesses achieve the UN Sustainable Development Goals.

Investments in plant meat, a.k.a alternative proteins, zoomed to $3.1 billion in 2020 compared to 2019, according to Bloomberg, which cited The Good Food Institute.

Use of funds

LIVEKINDLY will use the latest funding to expand into high-growth countries such as U.S. and China, for strategic acquisitions, new partnerships, and innovation in plant-based food products.

According to one report, this may be the company’s last round of funding before it goes for an IPO.

Related Story:  Rise, TPG’s Impact Investing Arm, Pays $200M For Stake In Airtel Africa’s Mobile Money Biz              

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/12/defense-attorney-g17da42d37_640.jpg
Digital Assets: Mike Novogratz Hits Out At Sam Bankman-Fried, Calls For His Prosecution
December 2, 2022     Digital Assets, News

Mike Novogratz, the billionaire CEO of Galaxy Digital (TSE: GLXY), was unequivocally critical about Sam Bankman-Fried’s virtual New York Times (NYT) Dealbook Summit interview. “I’m hoping that the authorities get…

https://dailyalts.com/wp-content/uploads/2022/12/Home_Hero.png
FinTech: Monzo To Turn Profitable In 2023, Says CEO
December 2, 2022     FinTech, News

“We will be profitable in the next financial year,” TS Anil said at the summit on Thursday, though Monzo reported pre-tax losses of £119mn for the 12 months to the…

https://dailyalts.com/wp-content/uploads/2022/12/binary-geafeafdd2_640.jpg
Artificial Intelligence: OpenAI Launches ChatGPT, A New Conversational AI System
December 2, 2022     Artificial Intelligence, News

OpenAI has unveiled ChatGPT, a new AI system that interacts in a conversational way. As part of a dialogue format, ChatGPT answers followup questions, admits its mistakes, challenges incorrect premises,…

https://dailyalts.com/wp-content/uploads/2022/12/MKV-product-hero.jpg
Artificial Intelligence: Monarch’s Electric, Driver-Optional, Smart Tractor Now In Commercial Production

Monarch Tractor has rolled out the first production model of the MK-V tractor that combines electrification, automation, and data analysis to help farmers reduce their carbon footprint, improve field safety,…