Argentine company Tomorrow Foods, which specializes in the development of plant-based protein systems and solutions for the food and beverage industry, has recently secured investments of USD 3 million, after two years of growth in the South American nation.
The injection of funds will allow the continuation of its business plan, and marks the conclusion of its second round of investments, following the one made in 2019 by the biotech company builder GRIDX.
“From the very beginning we were amazed by our team. Their determination and professionalism were key to us moving forward with the first investment. Their execution capacity showed how great a team they are and allowed us to renew our bet by participating in this new round. Latin America needs companies like Tomorrow Foods with real ambition to change the food industry forever,” says Matias Peire of Grid Exponential.
On this occasion, Tomorrow Foods received funding from local angel investors and important biotech companies that are betting on the growth of plant-based development at a national and regional level. The investment allows the company to grow in terms of structure and capabilities to provide solutions to the industry’s demand for sustainability.
“The investment will be used to deepen and accelerate our efforts in R&D&I, research, development and innovation, and to expand our commercial footprint in Argentina and Latin America. We are taking steps to become a reference in plant-based analogues and thus be able to support the different players in the regional Food and Beverage industry during the obvious growth of the plant-based trend. We are proud that investors trusted us to take this role,” explains Agustín Belloso, co-founder and CEO of Tomorrow Foods.
These new developments will thus complement the successful launch of its first line, the SPV Burger, the plant-based burger recently launched by the company for the foodservice sector that is currently sold in the main burger bars of Buenos Aires and GBA.
Tomorrow Foods’ goal is to continue commercializing and expanding its products to provide more and better support to companies in the region, and thus position itself for a next round of investment that will allow it to generate greater value and become a global player in the plantbased food market.