Plant-based meat company Nowadays has closed a $7 million seed round, as it looks to expand its portfolio and distribution.
Based in California, the company offers plant-based chicken nuggets and is looking to introduce new products.
Nowadays says that its technology combines simple ingredients “without any questionable additives” to create whole cuts of plant-based meat, which can then be processed using existing manufacturing finishing lines for animal meat.
Nowadays’ seed round was led by Stray Dog Capital, and also received support from meat processing and packaging business, Standard Meat Company.
Other participants in the round included existing backers VegInvest Trust, Tenacious Ventures, Cornucopian Capital and Good Protein Fund, as well as new investors.
The funds will support the commercialisation of additional products, including a plant-based chicken cutlet, and help the brand expand its distribution in foodservice and launch into retail.
Standard Meat CEO and co-president, Ben Rosenthal, said: “At Standard Meat, we are constantly looking ahead to the future, bringing innovation to every aspect of our business”.
“Today, that means investing in and supporting Nowadays and their plant-based meats that will deliver the nutritional benefits flexitarians are craving.
“We know that consumers want a variety of quality protein choices, and we are looking forward to lending our operational expertise and culinary credibility as Nowadays scales manufacturing and launches new products.”
© FoodBev Media Ltd 2022
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