No trip to Silicon Valley would be complete without a visit to one of the sumptuous dining experiences at companies such as Yahoo, Google, Adobe, and LinkedIn. We’re not talking private dining rooms with white table clothes; employees and guests (especially employees) are treated to five-star dining every day, at no charge. And, if someone is hungry between scheduled meals—no worry; there are more snacks on hand than you would find at your neighborhood grocery store.
Thanks to its relationship with Bon Appétit Management Company, a Palo Alto-based café and catering service, Better Meat Co. is pulling a sleight of hand by offering foie gras to the employees at LinkedIn’s Sunnyvale officer cafeteria. The trick here is that foie gras is illegal in California, so Better Meat substitutes fungi for duck or goose liver. For good measure, Better Meat is showcasing its deli turkey slices, also made from mycelium called Rhiza. Rhiza (the Greek word for root) is a whole food, complete protein that’s allergen-free, neutral in taste, and has the texture of animal meat.
Showcasing is the keyword here. At this point in its lifecycle, Better Meat Co. is more of a supplier than a producer, offering its mycoprotein to partners such as Hormel for inclusion in its existing and new products. As CEO Paul Shapiro explains, Better Meat Co. is focused on what it does best—“Our real expertise is in the fermentation and creating this extremely meat-like and versatile ingredient,” he told The Spoon, “But every once in a while, we like to showcase what the ingredients can do and the fact that it can make things as diverse as a turkey slice and foie gras really showed that. And so, in California, it’s illegal to sell foie gras, but now there is an option to enjoy that same delectable experience.”
Better Meat Co. walks a tightrope like others in the plant-based protein and cultured meat sector. Once a viable product has been developed, they face the option of taking their creations directly to the market (B2C) or taking the safer B2B route where a company offers its product to food manufacturers for their use in existing or new products. Shapiro, known throughout his industry as a visionary, realizes his company can take both paths to success.
In October 2021, Better Meat Co. and Hormel’s venture division entered an exclusive partnership to bring new mycoprotein and plant-based protein products to the marketplace. “Companies like Hormel have dramatically larger product development teams than we do,” Shapiro said. “Once our ingredients are in the hands of experts at companies like Hormel Foods, we are confident that the next generation of alternative meats will be more convincing and economical than ever.”
Perdue is another partner of Better Meat Co. In June 2019, the Sacramento-based company launched a national partnership with Perdue Farms – a leading chicken producer in the U.S. The company will provide Perdue with plant-based blends mixed with Perdue chicken to create the Chicken Plus product line.
While relationships with Hormel and Perdue make sense in the short run, neither, at his point, shows the breadth of Better Meat’s possibilities. In-house products developed by its food scientists and chefs range from Rhiza-based beef to fish to pork and may lead to the company—at some point—going directly to consumers. “I think you can expect to see that,” Shapiro said of such future plans. “We want to be able to bring our micro protein to as many people as possible, and we want to make it humane, easy to eat and affordable for everyone.”
According to Crunchbase, Better Meat has raised $9.6 million, the bulk of which came in a July 2020 round of $8.1 million. The new funding is led by Greenlight Capital and Green Circle Foodtech Ventures, and Johnsonville, the maker of Johnsonville Sausages. Another financing round would be expected for Better Meat Co to scale enough to bring its branded crabcakes and deli slices to hungry, healthy consumers.
Leave a Reply