Total amount raised
$465 Millions
Latest funding date
09/01/2023
Location
Eat Just has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company is renowned for its innovative plant-based egg products, which have garnered substantial interest in the food technology sector.
Keep reading to explore the intricacies of Eat Just's fundraising journey and the investors backing this pioneering company.
What Is Eat Just?
Eat Just, founded in 2011 by Josh Balk and Josh Tetrick, is a food technology company based in San Francisco, California. They specialize in developing plant-based alternatives to traditional egg and meat products.
Their flagship product, JUST Egg, is made from mung bean protein, which is cholesterol-free, non-GMO, and rich in protein. Other products include JUST Egg Folded, JUST Mayo, JUST Ranch, and JUST Chipotle Ranch.
With a workforce of 251-500 employees, Eat Just aims to create healthier, more sustainable foods using innovative science and technology.
How Much Funding Has Eat Just Raised?
- Venture Round
- Amount Raised: Not specified
- Date: September 2023
- Lead Investors: VegInvest, The Ahimsa Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve the quality and profitability of Eat Just's products and continue its mission of removing animals from the food production process.
- Grant
- Amount Raised: Not specified
- Date: June 2023
- Lead Investors: U.S. Department of Agriculture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the development and scaling of their cultivated meat products.
- Private Equity Round
- Amount Raised: $25M
- Date: August 2022
- Lead Investors: C2 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market presence and scale production capabilities.
- Venture Round
- Amount Raised: Not specified
- Date: November 2021
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at furthering research and development of new products.
- Venture Round
- Amount Raised: $200M
- Date: March 2021
- Lead Investors: Qatar Investment Authority
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of their plant-based and cultured meat products.
- Secondary Market
- Amount Raised: Not specified
- Date: January 2021
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at providing liquidity to early investors and employees.
- Convertible Note
- Amount Raised: Not specified
- Date: November 2018
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at funding ongoing operations and product development.
- Series E
- Amount Raised: Not specified
- Date: May 2017
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at scaling production and expanding market reach.
- Series D
- Amount Raised: $120M
- Date: August 2015
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch and distribution of their flagship product, JUST Egg.
- Series C
- Amount Raised: $90M
- Date: December 2014
- Lead Investors: Horizons Ventures, Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development and bring new products to market.
Eat Just has raised a total of $435M. The current valuation is Not publicly disclosed.
Key Investors
- VegInvest
- Details: VegInvest is an investment firm focused on supporting companies that develop alternatives to animal products. They aim to create a more sustainable and humane food system.
- Investment Focus Areas: Plant-based foods, alternative proteins, sustainable agriculture
- Notable Investments: Eat Just, Beyond Meat, Impossible Foods
- The Ahimsa Foundation
- Details: The Ahimsa Foundation supports initiatives aimed at replacing animals in the food system and other industries. They are committed to promoting non-violence and compassion towards all living beings.
- Investment Focus Areas: Plant-based foods, animal welfare, sustainable agriculture
- Notable Investments: Eat Just, The Good Food Institute, Mercy For Animals
- U.S. Department of Agriculture
- Details: The U.S. Department of Agriculture (USDA) is a federal agency responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food.
- Investment Focus Areas: Agriculture, food safety, rural development
- Notable Investments: Various grants and funding programs for agricultural research and development
- C2 Capital Partners
- Details: C2 Capital Partners is a private equity firm that invests in companies with strong growth potential. They focus on creating value through strategic partnerships and operational improvements.
- Investment Focus Areas: Consumer goods, technology, healthcare
- Notable Investments: Eat Just, Alibaba, JD.com
- Qatar Investment Authority
- Details: The Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. It invests in a wide range of asset classes and sectors globally to diversify the country's economy.
- Investment Focus Areas: Real estate, technology, infrastructure
- Notable Investments: Eat Just, Volkswagen, Barclays
What's Next for Eat Just?
Eat Just is poised for significant growth, with opportunities to expand retail distribution for its Just Egg products and increase foodservice sales. The company aims to produce tens of millions of pounds of cultivated meat by the end of the decade, leveraging partnerships with other consumer packaged goods companies.
Future fundraising efforts will likely continue, supported by investors like VegInvest and Ahimsa Foundation, to scale production and distribution. However, challenges such as ensuring product quality, navigating regulatory landscapes, and competing in the growing alternative protein market remain.
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