Total amount raised
$374.5 Million
Latest funding date
05/01/2024
Location
Meati has successfully raised funds over 10 rounds, with the latest being a Series C involving five investors, including Grosvenor Food & AgTech as the lead investor. The company specializes in fungi-based meat alternatives, attracting a total of 35 investors to back its innovative approach.
Keep reading to explore the intricacies of Meati's fundraising journey and the investors supporting this pioneering venture in the alternative protein market.
What Is Meati?
Meati Foods, based in Boulder, Colorado, specializes in producing fungi-based meat alternatives. The company operates in various industries, including Alternative Protein, Consumer Goods, Food and Beverage, Food Processing, and the Service Industry. With an employee count ranging from 101 to 250, Meati is a private company that has successfully raised funds through a Series C round.
Meati's products are made from mycelium, the root-like structure of fungi, offering nutrient-rich options like protein, fiber, folate, and zinc. Recognized for its innovation, Meati has been named one of North America’s most innovative companies by Fast Company for 2025.
How Much Funding Has Meati Raised?
- Seed Round
- Amount Raised: USD 4,800,000
- Date: July 2019
- Lead Investors: Congruent Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product offerings and establish a market presence.
- Grant
- Amount Raised: USD 1,250,000
- Date: July 2019
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development activities.
- Series A
- Amount Raised: USD 28,200,000
- Date: August 2020
- Lead Investors: Acre Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production capabilities and expand product lines.
- Debt Financing
- Amount Raised: USD 18,000,000
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and infrastructure development.
- Series B
- Amount Raised: USD 50,000,000
- Date: July 2021
- Lead Investors: Acre Venture Partners, Bond
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance marketing efforts and expand distribution networks.
- Series C
- Amount Raised: USD 150,000,000
- Date: July 2022
- Lead Investors: Revolution Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and increase market penetration.
- Series C
- Amount Raised: USD 22,000,000
- Date: January 2023
- Lead Investors: Revolution Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and product development.
- Undisclosed Round
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: Derek Jeter
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic initiatives and partnerships.
- Series C
- Amount Raised: USD 100,000,000
- Date: May 2024
- Lead Investors: Grosvenor Food & AgTech
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet growing consumer demand and expand retail presence.
Total Amount Raised: USD 374,471,176. Current Valuation: Not publicly disclosed.
Key Investors
- Grosvenor Food & AgTech
- Details: Grosvenor Food & AgTech led the $100 million Series C funding round for Meati Foods. Katrin Burt, Managing Partner, has joined Meati's board.
- Investment Focus Areas: Category-leading products, talented teams, impactful missions.
- Notable Investments: Meati Foods.
- Revolution Growth
- Details: Revolution Growth is a returning investor in Meati Foods, participating in multiple funding rounds. The firm is known for backing innovative and growing companies.
- Investment Focus Areas: Innovative companies, growth-stage businesses.
- Notable Investments: Meati Foods.
- Bond
- Details: Bond is one of the returning investors in Meati Foods' Series C funding round. The firm focuses on supporting innovative and growing companies.
- Investment Focus Areas: Innovative companies, growth-stage businesses.
- Notable Investments: Meati Foods.
- Acre Venture Partners
- Details: Acre Venture Partners participated in Meati's Series A and Series B funding rounds. The firm is known for investing in companies that aim to improve human and environmental health.
- Investment Focus Areas: Health, sustainability, food technology.
- Notable Investments: Not publicly disclosed.
- Congruent Ventures
- Details: Congruent Ventures led Meati's seed funding round. The firm focuses on early-stage companies that address sustainability challenges.
- Investment Focus Areas: Sustainability, clean technology, food and agriculture.
- Notable Investments: Not publicly disclosed.
What's Next for Meati?
Meati's future looks promising as it continues to expand its retail presence, aiming to reach 10,000 stores by the end of 2024. This growth is fueled by increasing consumer demand for plant-based protein options and high repurchase rates, positioning Meati as a major player in the alternative protein market.
With a strong foundation from its recent $100 million Series C funding, Meati is well-poised for future fundraising opportunities. The company's rapid expansion and significant market presence suggest potential for additional investments to support further growth and innovation.
However, Meati faces challenges such as maintaining product quality and affordability while scaling operations. Navigating a competitive market and managing leadership transitions will also be crucial for sustaining its growth trajectory.
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