US-based food producer Hampton Creek has raised $90m in series C funding from investors including Taiwan-based food conglomerate Uni-President Enterprises Corporation, TechCrunch reported yesterday.
Existing investors Horizons Ventures and Khosla Ventures co-led the round, which also featured Far East Organization, WP Global, Collaborative Fund, Founders Fund and several private investors.
Hampton Creek is developing plant-based products intended to be tastier and healthier substitutes for existing foods based on animal products. It has so far released two: Just Mayo and Just Cookies, but is working on healthy substitutes for sugars, oils, scrambled eggs and pasta.
The company has now raised a reported $120m in total, including $23m from a February 2014 round backed by Horizons, Khosla, Collaborative Fund, AME Cloud Ventures and Eagle Cliff Partners among others.
Hampton Creek will invest the funding in a plan to build the world’s largest plant database, research and development, beefing up its automated laboratories, and the securing of new office space as it looks to hire additional staff.
In addition to those plans, the cash is also intended to support expansion in Western Europe and Asia.