Plant-based meat producer Future Farm has secured £42 million in Series C funding, as it looks to enter new product categories and advance its technology.
Since launching in Brazil in 2019, Future Farm has rolled out its products internationally and the brand is currently available in 24 countries.
Future Farm’s portfolio includes plant-based burgers, sausages, meatballs, mince, ‘chick’n’ and ‘tvna’, and the company says its next move will be into the plant-based drinks and dairy categories.
The Series C investment – which was co-led by Rage Capital – will support Future Farm’s plans for rapid growth across Europe and the US.
The brand will also use the funds to advance its True Texture Technology, bringing its products closer in look, feel and flavour to their animal-origin counterparts. Future Farm currently creates its plant-based products using 3D extrusion, enzymes and biotechnology.
In addition, the funding will support progress towards Future Farm’s goal of 100% sustainable and plant-based packaging.
“This investment ignites a new chapter in Future Farm; we are creating a robust 4.0 plant-based platform with meat, milk and dairy,” said Marcos Leta, Future Farm’s founding partner and CEO.
He adds: “12 innovations are now being developed to make slaughterhouses and dairy products even more obsolete.”
© FoodBev Media Ltd 2021
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