Eat Just is reportedly targeting Q4 2021 or early 2022 for its IPO, which currently has a valuation of $3 billion, according to an Eat Just investor. Forbes was first to break the news after one of its contributors spoke to an anonymous investor in the company.
To date, Eat Just has raised $440 million, with its most recent fundraise being a $200 million round led by Qatar Investment Authority earlier this year.
Eat Just is best known right now for its plant-based egg products, which are available in the U.S. through grocery retailers as well as at restaurants. The company has also steadily built a significant international presence over the last few years, too. Notably, that includes teaming up with China-based QSR chain Discos to replace traditional eggs on the latter’s menu and expanding across Canada in March of this year.
Of late, however, Eat Just has grabbed the most headlines for its cultivated meat business, GOOD, which won the world’s first regulatory approval to sell cultured meat this past December in Singapore. The company has since sold its GOOD cultured chicken bites on the regular at restaurants in the city-state and even partnered with Delivery Hero subsidiary Foodpanda to deliver them.
GOOD raised its own $170 million in May of this year. At the time, Eat Just CEO Josh Tetrick hinted to The Spoon that regulatory approval in the U.S. was on its way for the company. In its report today, Forbes name-dropped China as another potential country that could next grant regulatory approval to sell cultured meat.
Whether the company will go public before achieving these regulatory milestones or after is not clear at this time.