It started one week ago when leading UK meat alternative manufacturer Quorn Foods announced that they had sold to the Philippine’s Monde Nissin for a tremendous US $831 million. The company, which offers over 90 meat alternative products based on mycoprotein, announced that the acquisition will help them expand into Asian markets and propel them to their goal of $1 billion in annual revenues.
Then, on Friday, two brilliant young entrepreneurs were featured on ABC’s hit reality show Shark Tank (see the episode here), where they pitched their startup business, Loliware. The company produces delicious and bright edible cups made out of plant-based alternatives to gelatin, a solution that could dramatically reduce the waste and damage caused by disposable plastic cups. Following a feeding frenzy in which all the sharks clamored to join the venture, the company’s founders made a deal with billionaire tech mogul Mark Cuban and real estate tycoon Barbara Corcoran. The total investment? $600,000. An impressive amount for such an early stage company given the notorious undervaluations of the sharks, and four times more money than the Loliware ladies had even asked for!
Finally, early this morning TechCrunch broke the news that pre-market, plant-based cheeseburger maker Impossible Foods has raised $108 million in a single round. The investors included big names such as Bill Gates, Li Ka-shing’s Horizons Ventures, Khosla Ventures and Viking Global Ventures. Insiders say that the company had already raised $75 million in a previous funding round. All this money suggests that Impossible Foods could be the first food company to raise so much money before selling a single product.
$831,000,000 + $600,000 + $108,000,000 = US $939,600,000 invested in one week for healthy and sustainable plant-based goods.
Big money is betting on plants and we’ll all be able to cash in.