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One of the best vegan startups in Chile secures an investment of $ 85 million

This week Chilean meals expertise startup The Not Company (NotCo) introduced {that a} Collection C financing spherical valued at $ 85 million has been closed. NotCo’s merchandise had been based in 2015 by biotech engineer Matías Muchnick, biochemist Pablo Zamora and laptop scientist Karim Pichara and are primarily based on “Guiseppe” – a discovery platform that identifies plant proteins that may imitate animal merchandise. The corporate presently makes use of this expertise to fabricate NotMayo, NotMilk, NotIceCream, NotBurger and NotMeat. This 12 months, NotCo partnered with Papa Johns and Burger King to deliver its plant-based meat merchandise to the menu in Chile.

“We’re excited to associate with a real disruptor within the meals expertise trade,” stated Ramiro Lauzan, associate at L Catterton Latin America, a non-public fairness agency who collectively led the funding. “NotCo is taking a basically authentic method to changing animal meals with extra sustainable alternate options via the applying of meals science and revolutionary expertise. By leveraging our expertise in Higher For You corporations all over the world and dealing with the proficient group at NotCo, we stay up for realizing the corporate’s profitable growth into the US market. ”

NotCo’s new spherical of funding builds on an earlier $ 30 million funding backed by Kaszek Ventures, The Craftory and Bezos Expedition – a fund managed by Amazon founder Jeff Bezos. “We have now been actively supporting the corporate since its inception with the agency perception that NotCo should be the main world participant within the meals tech sector,” stated Nicolas Szekasy, Managing Companion at Kaszek Ventures. “Throughout this unsure time, shoppers have elevated their urge for food for the world of crops. On the similar time, COVID-19 has proven that meat manufacturing shouldn’t be solely environmentally dangerous and inefficient, however that the provision chain can also be fragile. We’re due to this fact excited a few tipping level the place natural merchandise have gotten an growing a part of a brand new regular as soon as they’ll truly style wonderful, as we’re seeing at NotCo. “

NotCos Muchnick (CEO) and Pichara (CTO) are transferring to the US and have employed a group of executives who beforehand labored for corporations like Danone and Coca-Cola to supervise the startup’s American progress.

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