Nature’s Fynd secures $350 Mil­lion in Series C Fund­ing Round

Lead­ing Food-Tech Begins Com­mer­cial Pro­duc­tion

20-Jul-2021 - USA

Nature’s Fynd, a food com­pa­ny grow­ing sus­tain­able pro­tein from a microbe with ori­gins in the geot­her­mal springs of Yel­low­stone Nation­al Park, announced today it has raised $350 mil­lion in a Series C financ­ing — bring­ing the company’s total financ­ing to over $500 mil­lion. The round was led by SoftBank’s Vision Fund 2* and joined by new investors includ­ing Black­stone Strate­gic Part­ners, Balyas­ny Asset Man­age­ment, Hill­house Invest­ment, EDBI, SK Inc. and Hongk­ou with con­tin­ued sup­port from exist­ing investors.

Photo by Viacheslav Bublyk on Unsplash

The com­pa­ny is a pio­neer in the devel­op­ment and pro­duc­tion of Fy, its high­ly ver­sa­tile nutri­tion­al fun­gi pro­tein that is grown by a rev­o­lu­tion­ary fer­men­ta­tion tech­nol­o­gy using just a frac­tion of the land, water and ener­gy required by tra­di­tion­al agriculture. 

This lat­est round of fund­ing will help accel­er­ate Nature’s Fynd growth—including expand­ing its pro­duc­tion capac­i­ty, deliv­er­ing excit­ing part­ner­ships, lay­ing the foun­da­tion for glob­al reach and extend­ing its prod­uct port­fo­lio from break­fast to din­ner and every­thing in between—to deliv­er on its mis­sion of cre­at­ing amaz­ing foods that nour­ish peo­ple while nur­tur­ing the planet.

“We know con­sumers today expect great tast­ing meat and dairy alter­na­tives with­out com­pro­mis­ing on health or sus­tain­abil­i­ty. And Fy — our nat­ur­al, com­plete veg­an pro­tein deliv­ers on all fronts: amaz­ing taste and tex­ture while being health­i­er for peo­ple and gen­tler on the plan­et than tra­di­tion­al pro­teins. The suc­cess­ful launch of our Fy Break­fast Bun­dle with Orig­i­nal Meat­less Break­fast Pat­ties and Dairy-free Cream Cheese ear­li­er this year—which sold out in 24 hours— clear­ly showed that we can meet our con­sumers’ expec­ta­tions for deli­cious meat and dairy alter­na­tives with no trade­offs. In the past year, we also showed that we can grow Fy at com­mer­cial scale lever­ag­ing robot­ics and automa­tion in our new state-of-the-art facil­i­ty in Chicago’s his­toric Union Stock­yards” said Thomas Jonas, CEO and Co-founder of Nature’s Fynd. ​“In 2022, we will bring our brand­ed Fy based foods to con­sumers in the US, expand to new geo­gra­phies with a spe­cial focus on Asia where there is sub­stan­tial demand and need for sus­tain­able pro­tein and cre­ate mul­ti­ple brand-aligned part­ner­ships for retail, quick-serve restau­rants (QSR) and emerg­ing high growth channels.”

Angela Du, Invest­ment Direc­tor at Soft­Bank Invest­ment Advis­ers said, ​“Nature’s Fynd is com­bin­ing its unique fer­men­ta­tion tech­nol­o­gy with robot­ics to devel­op pro­tein-rich foods that are sig­nif­i­cant­ly more sus­tain­able to cre­ate, and pro­duced in a frac­tion of the time as ani­mal- and soy-based pro­teins. We are excit­ed to part­ner with Thomas Jonas and the Nature’s Fynd team to help them scale their busi­ness and cap­ture the tremen­dous glob­al oppor­tu­ni­ties in front of them.”

Ener­gized by the company’s scal­able man­u­fac­tur­ing process and the suc­cess­ful lim­it­ed-release Fy Break­fast Bun­dle Direct-To-Con­sumer launch, Break­through Ener­gy Ven­tures, Gen­er­a­tion Invest­ment Man­age­ment and 1955 Capital—who led pre­vi­ous rounds of funding—have returned to sup­port the company’s ambi­tious growth goals, along­side ear­ly investors includ­ing Danone Man­i­festo Ven­tures and ADM.

Nature’s Fynd expects to launch its Fy based meat­less and dairy-free prod­ucts in select­ed retail­ers lat­er this year.

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