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GREEN ISLAND, N.Y., April 15, 2021 /PRNewswire/
Atlast Food Co., the mycelium food company growing the future of plant-based meats, today announced a $40M Series A round to develop and supply whole cut plant-based meat to partners around the globe, including directly to consumers through its own brand MyEats. Viking Global Investors led the round with participation from 40 North, AiiM Partners, Senator Investment Group, Stray Dog Capital, Footprint Coalition Ventures, and others. Also joining were the leaders and founders of food and CPG companies, including Applegate, Stonyfield, and Whole Foods. This funding will support the further development and scaling of this technology and team.
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Today, New York-based startup Atlast Food Co. announced that it has raised a $40 million Series A funding round to help it bring mushroom-based vegan meat products to consumers everywhere. Under its MyEats brand, Atlast makes vegan MyBacon from mycelium (the fast-growing root systems of mushrooms) by first producing “mushroom belly” which is sliced and brined. The resulting mushroom bacon mimics pork bacon in taste and texture a key differentiating factor from other plant-based meats on the market. While many plant-based products such as burgers, grounds, and chicken are made from an extruded base, MyBacon is a “whole cut” vegan meat made with six ingredients that offers a multi-sensory experience with the same sear, sizzle, chew, and fattiness of animal meat.
Dive Brief:
Atlast Food Co., which makes alternatives to bacon out of mushroom mycelium through its MyEats brand, raised $40 million to develop and supply whole-cut meat alternatives to partners worldwide through development and scaling its technology. Atlast President Stephen Lomnes said the company is currently building the nation s largest mycelium production facility.
Viking Global Investors led the funding round. It was joined by 40 North, AiiM Partners, Senator Investment Group, Stray Dog Capital and the Footprint Coalition. Leaders and founders from different food and CPG companies, including Applegate, Stonyfield and Whole Foods, also participated.
Atlast is one of a handful of companies that use mushroom mycelium the fungus long roots to make whole cut meat alternatives instead of the ground varieties made by most plant-based meat companies. The company s MyBacon has been on the market in the area near its Albany, New York, home since last November, and Atlast said
Atlast Raises $40M to Expand Production of Whole Cut Plant-Based Meat prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.