US plant-based meat company, Hungry Planet, has closed an oversubscribed $25 million Series A financing round, as it looks to increase its production capacity.
Headquartered in St. Louis, Missouri, Hungry Planet supplies consumers and the foodservice sector with a wide range of plant-based meats.
The company’s portfolio includes alternatives to chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage and Italian sausage.
Post Holdings led Hungry Planet’s latest financing round and was joined by Singaporean investment group Trirec, as well as other ‘plant-forward’ investors.
The new funds will be used to build capacity for Hungry Planet’s plant-based meats and accelerate the company’s growth across the retail, foodservice and e-commerce channels, both domestically and internationally.
“Over the past several years, we’ve been quietly piloting our full range of chef-crafted, nutritious plant-based meats in select foodservice and retail markets domestically and internationally,” said Hungry Planet CEO Todd Boyman, who co-founded the company with his sister Jody Boyman.
“With over 4 million servings sold globally, we’ve validated that our full range works perfectly in any cuisine, any recipe, any venue and any geography.”
He continued: “By delivering on taste, health and variety, we have seen tremendous success in foodservice and are now developing a deeply loyal and enthusiastic following in retail. Our broader retail launch is currently rolling out across the USA and Singapore, and we are excited for the additional growth opportunities this funding provides.”
© FoodBev Media Ltd 2022
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