Investments & Finance

Canada’s TMRW Foods Raises $2.6M For US Expansion With High Profile Investors From Daiya and Disney

Vancouver-based TMRW Foods announced this week a seed round investment of $2.6 million from investors including Greg Blake, Co-founder of Daiya, and Richard Cooperstein, CEO & Senior Managing Partner of Media Investment Group, former Senior Executive at Disney‘s Worldwide Television Group, Paramount Pictures & Facebook.
Other investors in the seed round included Eric Patel, Director at Fresh Prep, former Director at Smart Sweets, former Board Chairman at Daiya, and the Milne Group, owners of Virtuous Pie, Mila and Harken Coffee. The fresh funds will be used to further product innovation, North American expansion, and increased efficiency of current production lines.

TMRW Foods portfolio currently includes TMRW Burgers, TMRW Breakfast Patties, TMRW Ground, 4 flavours of TMRW Sausages, and four flavours of the newly-launched TMRW Shreds, which are produced from its wholly-owned HACCP certified facility in British Columbia, Canada.
TMRW Foods potatoes
©TMRW Foods
The company reports that it tripled its distribution points from the end 2020 to Q2 2021, and that it entered new markets including Toronto, Ottawa, Calgary, and Edmonton in Q1 and Q2 of 2021. Current retailer accounts include grocery chains such as Whole Foods Market, Save-on-Foods and Healthy Planet, as well as local independent grocers.

“We’re excited to keep challenging the status quo, to reimagine how to feed people today and tomorrow, to keep unlocking the full potential of plants”, said Dean Blignaut, TMRW Foods co-founder and CEO. “As much as raising capital at this time will enable us to execute on our growth strategy, it’s just as much about surrounding ourselves with the right people and building a core group of stakeholders that are tremendously skilled in facets of the business that we want to focus on. The value and wisdom gained from these stakeholders will enable us to take the next step in the evolution of TMRW – to take what we have built to new heights.”

TMRW Foods ground
©TMRW Foods

“Dean and his team at TMRW have a unique approach to plant-based proteins, and their products really stand out. I love that he wants to build the business the right way – focusing on the fundamentals and building a structure and culture for the long term,” said new TMRW investor Eric Patel, who has also taken on an advisory role at TMRW.

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