NotCo, a company producing plant-based meat and dairy products, held another investment round. It raised $235 million, and the company’s total valuation reached $1.5 billion, putting it on the list of “unicorns.
The company will use the investments raised to expand and develop its products in the United States, Asian and European countries. The company’s General Manager Matthias Muchnik shares the plans of supplying vegetable milk to 8 thousand retail outlets around the world. It’s been seven months since the drink, called NotMilk, went on sale. The organization’s management notes that NotCo is receiving many offers of collaboration from third-party firms.
PitchBook conducted a study in which it found that last year, investors showed an active interest in producers of vegetarian products. Thus, the cumulative investment in companies from this area in 2020 approached $1.7 billion, which was three times higher than in 2019. it is expected that the flow of funds to such companies in 2021 could reach $8 billion. The leaders among manufacturers of plant-based food remain Impossible Foods and Beyond Meat.