Plant-based food firm The Livekindly Co. (also known as the Livekindly Collective) has raised $135 million in a new funding round led by Blue Horizon Corporation.
The Livekindly Co. is a collective of plant-based food brands and predominantly focuses on the meat alternatives market. The company was launched earlier this year following a $200 million funding round, and owns and operates brands including The Fry Family Food Co., LikeMeat and Oumph.
Along with Blue Horizon’s financing, this latest funding round also featured investments from an unnamed Asian syndicate led by Trustbridge Partners; global investment organization EQT; Griffith Foods; and other existing shareholders
According to a statement from The Livekindly Co., the majority of funding will be used to increase capacity and accelerate the 2021 nationwide US launch of portfolio brands The Fry Family Food Co., LikeMeat, and Oumph; and will help the company to develop new products including plant-based chicken and egg alternatives.
Kees Kruythoff, CEO and chairman of the Livekindly Co., said: “We see significant investor interest increasing around our movement. Through our plant-based food platform, we’re committed to ethically and environmentally-friendly practices in everything we do.
“We are also uniquely positioned to scale rapidly and transform the current global food system.”
David Knopf, chief financial officer of The Livekindly Co., added: “Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need.
“Our plans to accelerate business growth not only meets the demand of consumers for healthier and more environmentally friendly products, but also creates an attractive investment opportunity behind a purpose-driven business model.”
Earlier this year, The Livekindly Co. acquired meat alternative brand Oumph from Swedish firm Food For Progress for an undisclosed figure.
Oumph produces and markets a wide range of plant-based meat alternative products, which are principally made from soy and are available in several European countries.
© FoodBev Media Ltd 2019