Cult plant-based chicken producer Daring Foods announces an impressive $65 million Series C raise, as one of just a few companies to raise Series A, B and C in a single year. This brings Daring’s total raise to over $120M with earlier investors like Maveron, Palm Tree Crew, and rapper Drake.
Daring also announces major retail expansion into over three thousand Walmart stores across the USA, doubling its distribution to 6,000 doors nationwide. The round was led by Founders Fund, joined by existing investor D1 Capital Group, alongside notable new personalities, athletes and celebrities like Naomi Osaka, Cameron Newton, renowned DJ Steve Aoki, and Chase Coleman.
Founder and CEO Ross Mackay became vegan over a decade ago, after a fellow athlete “dared” him to try a vegan diet for a week. After years of R&D with researchers and food scientists in the UK, Mackay launched Daring Foods in the US in early 2020.
Speaking in interview with vegconomist last year, Mackay said of his product’s USP: “We are unique because instead of offering a product that is meant to be an occasional swap, daring is something that consumers can actually eat every day. Our pieces come in delicious flavors that are simple and easy to use in a million different recipes, just like chicken. In addition to offering convenience and versatility, we are also setting the bar high for other plant-based brands when it comes to ingredients. Our offerings are created with a handful of recognizable, wholesome ingredients, whereas other plant-based alternatives often include 30+ ingredients. We take the guesswork out and stick to simple, nutritious ingredients.”
Daring has been named one of Fast Company’s World Changing Ideas, awarded NOSH’s Best New Product, and featured in outlets like Forbes, Thrillist and People Magazine. In 2021, Mackay was recognized as a Food & Beverage innovator by Forbes 30-Under-30.