US-headquartered vegetarian food producer Livekindly Collective received $135m in funding yesterday from investors including food ingredient developer Griffith Foods.
Food-focused venture capital firm Blue Horizon Corporation led the round, which also featured growth equity firm Trustbridge Partners, investment group EQT and undisclosed existing backers.
Founded by Blue Horizon, Livekindly Collective operates a diversified plant-based food offering that includes an online media platform under the Livekindly brand, in addition to plant-based food brands Fry Family, Oumph and Like Meat.
The company formally launched in March this year with $200m from controlling shareholder Blue Horizon and another 10 to 15 participants including its founders as well as unnamed entrepreneurs and family offices.
Blue Horizon, Beyond Impact, Kale Invest, Bag Ventures and private investors Stephen Marshall and Matthew Cauble had provided $780,000 for Livekindly in October 2018 prior to its unification with the other brands. Its earlier backers include 7 Gate Ventures.
David Knopf, Livekindly Collective’s chief financial officer, said: “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.”
