Investors bank on technology to get plant-based chicken to price parity
KBW Ventures invests in latest round, building on its initial Series A commitment
Food manufacturing technology company Rebellyous Foods announced that it has raised a $9.5M equity round to build its novel production technology. Based in Seattle, Washington and led by former aerospace engineer, Christie Lagally, Rebellyous Foods has developed patented technology that unlocks production at cost-parity to animal-based chicken.
Rebellyous will use the investment to deploy its breakthrough equipment and continue on its mission to grow accessibility and availability of plant-based meat through tech-backed solutions.
“During a tough economic slump, we are thrilled by this testament to investor belief in Rebellyous and in price parity as a solution to sustained growth of plant-based meat in the marketplace,” said Christie Lagally, founder and CEO of Rebellyous Foods. “The world is in desperate need of viable solutions to animal agriculture, and we are delighted we are one step closer to delicious, affordable plant-based meat for all.”
“Rebellyous is the only company making meaningful strides towards price parity,” Mike Miller said, Board Member and Partner at Liquid 2 Capital. “The plant-based meat industry has shown us that the status quo isn’t cutting it… and it takes a new style of thinking to look beyond food chemistry to manufacturing.” Plant-based chicken is the second-fastest growing category of the plant-based meat sector and poised for remarkable segment growth. Rebellyous products are currently in more than 1000 retail locations and more than 100 school districts across the U.S.
The company was founded in 2017 to provide the plant-based meat industry the tools needed to radically increase production capacity while dramatically lowering costs for high-quality plant-based meat. Investors include Clear Current Capital, Fifty Years, Liquid 2 Ventures, CPT Capital, Agronomics, and KBW Ventures. KBW Ventures took part in the company’s latest round, building on its initial commitment in Rebellyous’ $6 million Series A raise in April 2020.
Related: Rebellyous Foods Announces Launch of New Retail Products