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Plant-Based Food Co. NotCo Gets $30M from Investors Including Jeff Bezos

by Chris Albrecht
March 4, 2019March 4, 2019Filed under:
  • Business of Food
  • Funding
  • Future Food
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NotCo, a Chile-based startup that uses AI to create plant-based versions of dairy products, has raised $30 million led by The Craftory investment fund, with participation from Jeff Bezo’s Bezos Expeditions (h/t FoodBev Media).

At the heart of NotCo is Giuseppe, the company’s artificial intelligence platform that analyzes food on a molecular level to re-create the flavors and textures of traditional foods. The company’s Not Mayo is made with potatoes, peas, basil, and canola oil rather than vegetable oil and eggs.

NotCo’s mayo is currently available in more than 1,000 stores in Chile. The new money will be used to fund new products like plant-based milk and ice cream, as well as expand into new markets such as Mexico and the U.S. later this year.

Investors have shown a pretty big appetite for plant-based products like NotCo’s, and it’s not hard to see why. Increased awareness around the ethical and environmental issues associated with meat and dairy consumption have more people re-thinking their diets and sales of plant-based products are soaring. But perhaps more importantly, plant-based alternatives have gotten really good.

via GIPHY

This combination of factors have led to companies like Impossible Foods raising $387.5 million, Beyond Meat raising $122 million (and going public), and more recently, Motif raised $90 million to help even more startups use plant-based ingredients.

But it’s not just startups, BIG FOOD (as my colleague, Catherine Lamb likes to call it), is plant-based muscling in on the act as well. Nestle has introduced its own version of the Impossible burger (dubbed the Incredible burger), Unilever bought the Vegetarian Butcher, and chicken king, Tyson is planning its own plant-based food products.

NotCo is also riding another high-tech trend: artificial intelligence for food/flavor creation and molecular food construction. Companies like Tastewise, Analytical Flavor Systems and even spice giant, McCormick are using the power of artificial intelligence to power the development of new flavors.

It’s safe to say that with all this interest and investment in companies like NotCo means plant-based startups are not going to stop anytime soon.


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Bezos-Backed NotCo Raises $235M for Plant-Based Alternatives

NotCo, a Chile-based food tech company that produces various plant-based alternative foods, announced today that it has raised $235 million in its Series D round of funding. The round was led by Tiger Global and saw participation from DFJ Growth Fund and ZOMA Lab, with individuals also joining including Jack…

Plant-Based Food Producer NotCo Granted U.S. Patent for Its AI Technology

Chile-based alt protein company NotCo announced today it has been granted a U.S. patent for its artificial intelligence (AI) tech.  NotCo, sometimes referred to as the Impossible or Beyond of Latin America, first launched its plant-based milk alternative, NotMilk, in the U.S. at the end of 2020. The company said…

NotCo’s Milk Alternative Launches in the U.S. Today

Chile-based food tech company NotCo, best known for its alt-protein products, announced today it is launching its plant-based milk alternative in Whole Foods stores across the U.S. These alt-milk products will be available in Whole and Reduced Fat varieties at stores as of today, according to a press release from…

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