Plant-based meat alternative company Nuggs has rebranded as Simulate, following a new $4.1 million investment round.
As a result of the rebrand, Simulate will now act as the parent company of the Nuggs brand.
Nuggs was launched in 2019, releasing a line of plant-based alternatives to chicken nuggets. Existing investors in Nuggs include McCain Foods, Rainfall Ventures, Maven Ventures and NOMO Ventures.
This latest $4.1 million financing includes investments from AgFunder, Lerer Hippeau (via BN), Alexis Ohanian (co-founder of Reddit), Walter Robb (former CEO of Whole Foods), and Jasmine Tookes (Victoria’s Secret model).
Former senior director of research & innovation at Danone, Thierry Saint-Denis, has also been appointed as the company’s chief technology officer. In this role, Saint-Denis will be responsible for leading the development of new products and ‘nutrition technologies’.
In a statement, Simulate stated that it would aim to release a new range of Spicy Nuggs and a plant-based hot dog alternative later this year.
Ben Pasternak, founder and CEO, of Nuggs and Simulate said: “We’re pumped to launch new nutrition technologies over the next few months under our new parent company, Simulate.
“Nuggs is just a taste of what the future holds, with new products around the corner.
“I’m beyond thrilled to join the Simulate team. The food system is in need of a complete reinvention and we think the best way to change it is to recreate the products we like, using and advancing what nature gave us with better technology.”
© FoodBev Media Ltd 2020