Following international deals with Dicos, Cuisine Solutions and Peet’s Coffee, industry-leading food tech startup Eat Just announces that it has secured $200 million in a new funding round. The investment will be used to accelerate growth of its plant-based JUST Egg range, as well as GOOD Meat cell-cultured products.
The latest financing round raises the total amount of investment to $650 million since the company’s founding in 2011. The funding will be used to accelerate research and development programs and build its brands in key international markets, including Canada where JUST Egg has now launched. With JUST Egg already available in more than 20,000 retail points and 1,000 foodservice locations, the company is now poised to bring its refrigerated and frozen formats to millions more around the globe.
In late 2020, Eat Just made headlines by securing the first-in-the-world regulatory approval to sell its cell-cultured GOOD Meat-branded chicken at a restaurant. Following news of this recent financing boost, it plans to double down on its commitment to dramatically reduce cultured meat production costs, scale commercial manufacturing operations and advance its work on other types of meat.
In another move for plant-based investment in the Middle East, the funding round was led by the Qatar Investment Authority – the sovereign wealth fund of the State of Qatar – amongst other private investors.
“We are very excited to work with our investors to build a healthier, safer and more sustainable food system. Their knowledge and experience partnering with companies that are transforming numerous industries were fundamental in our decision to partner with them,” said Josh Tetrick, co-founder and CEO of Eat Just.