Lab's proteins: Eat Just closes a $ 200 million funding round
Since its founding, the food technology start-up has raised over 650 million
Food tech start-up Eat Just has closed a $ 200 million funding round. The transaction was led by the Qatar Investment Authority (Qia), the sovereign wealth fund of the state of Qatar, flanked by private investment firms Charlesbank Capital Partners and Vulcan Capital. Eat Just will use the investment to increase production capacity, grow its brands in key international markets and accelerate research and development programs. Since its founding, the food technology start-up has raised over $ 650 million to create a plant-based egg alternative (made from mung bean protein). Last year, the company entered the nascent cell-cultured meat sector with the launch of Good Meat Cultured Chicken in Singapore.
“We are very excited to work with our investors to build a healthier, safer and more sustainable food system. Their knowledge and experience working with companies that are transforming numerous industries has been of paramount importance”, said Josh Tetrick , co-founder and CEO of Eat Just. The company also intends to continue to reduce the costs of cultured meat products, increase its commercial production operations, and continue its work and research on other types of meat.
In early 2021, the company said it had record retail sales for Just Egg's "pourable" format. Chinese fast food chain Dicos recently introduced Just Egg's precooked solution to the menu, marking, according to the company, "the first time a 'fast food' has replaced an animal-based product with a plant-based one". The company also announced its expansion into Canada. Just Egg will be present in more than 1,000 grocery stores across the country and available on food service platforms.
EFA News - European Food Agency