Chile’s NotCo Nears \(250M Valuation with \)85M Funding Round
Latin America’s Plant-Based Pioneer Expands Globally
The Not Company, Chile’s innovative plant-based food tech startup, is finalizing an \(85 million funding round that will value the company at \)250 million, according to insider sources. This milestone cements NotCo’s position as Latin America’s leading alternative protein innovator.
Rapid Growth and Product Expansion
Since its global debut two years ago, NotCo has:
- Expanded from its initial mayonnaise substitute into dairy alternatives (milk, ice cream) and meat substitutes (burgers)
- Developed a chicken alternative currently in the pipeline
- Secured distribution in Chile, Argentina, and Brazil - Latin America’s largest market
“The Not Company is looking to start a food revolution from Chile” - TechCrunch
Burger King Partnership Drives Success
NotCo’s breakthrough came through a landmark deal with Burger King, where it supplies plant-based burgers that reportedly outperform Impossible Foods’ per-store sales:
- Selling 48 sandwiches per store daily in partner locations
- Currently available in Argentine and Chilean grocery stores
- Projected to reach break-even or positive cash flow by December 2021
Image Credit: The Not Company
Investor Confidence in Sustainable Food Tech
Key investors in the current round include:
- Consumer-focused private equity firm L Catterton Partners
- Biz Stone-backed Future Positive
Previous backers feature:
- Jeff Bezos’ Bezos Expeditions
- The Craftory (London-based CPG investors)
- IndieBio and SOS Ventures
The Growing Alternative Protein Market
The plant-based food sector continues attracting significant investment:
- Perfect Day recently raised \(160M (total funding now \)361.5M)
- Food chains increasingly adopt plant-based options
- KFC testing Beyond Meat chicken substitutes and cultured meat in Russia
Environmental Impact of Plant-Based Alternatives
Animal agriculture’s environmental consequences drive demand for alternatives:
- Second-largest contributor to human-made greenhouse gases
- Leading cause of deforestation and biodiversity loss
- Occupies 33% of Earth’s habitable land
- Consumes 16% of global freshwater
Studies suggest replacing beef with plant-based options could reduce emissions by 1,911 pounds of CO2 per American.
“From bioprinting lab-grown meat in Russia to Beyond Meat in the US, KFC is embracing the future of food” - TechCrunch
NotCo’s success reflects shifting consumer preferences and the food industry’s transformation toward sustainable alternatives. With its innovative products and strategic partnerships, the Chilean startup is well-positioned to capitalize on this global trend.
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