V2food, the Sydney-based producer of plant-based meats, announces today Monday that it has secured $77 million Australian dollars ($55 million) in series B funding, having already raised $35 million in Series A at the end of 2019. According to Bloomberg, this deal will help V2Food to forge a presence in Asia.
Investors in this round include Goldman Sachs Group Inc. and Singapore’s Temasek Holdings, in addition to several Asian producers, banks and capital firms. This brings the total raise to date to A$113 million for the brand originally forged as a partnership between CSIRO, Main Sequence Ventures and the founder of fast food chain Hungry Jack’s for which it supplies its plantbased Rebel Whopper burgers.
“This is the moment for this industry, everyone realizes this is going to happen, so there is a lot of capital looking for a home here,” V2food Chief Executive Officer Nick Hazell said to Bloomberg.