Just Inc has seen phenomenal success with their vegan egg replacement product JUST Egg, and is also developing a vegan Waygu beef product. Now the company, previously known as Hampton Creek, is seeking $200 million in new funding for JUST Mayo.
Just Mayo, the egg-free alternative to mayonnaise, was formulated in 2011 by founder Joshua Tetrick, using $37,000 of his own money. The company has had its share of problems such as in 2016 when operating as Hampton Creek, when it was accused of buying its own product to boost sales. However, in March the following year, Tetrick told staff that the investigations had ended with no wrongdoing found. Also that year the company voluntarily recalled one batch of its Just Mayo product, due to Salmonella contamination concerns.
Now, according to Bloomberg, the San Francisco-based company is gauging preliminary interest from Chinese investors, CLSA Ltd., the overseas arm of Chinese investment bank Citic Securities Co.