TMRW Foods, a Canadian plant-based foods innovator, announces the closing of a C$2M (US$1.5M) financing round to fuel the company’s expansion across North America. The brand also reveals it will launch eight products in US Sprouts Farmers Markets this August.
“An electric feeling”
Based in Vancouver, TMRW Foods sells a lineup of soy-free and gluten-free protein shreds, burgers, sausages, and meatballs made with proprietary TMRW protein – an innovative blend of pea isolate, oat flour and brown rice protein. Earlier this year, the brand added several varieties of Ocean Cakes, a crab cake alternative, to its offerings.
In 2021, TMRW raised $2.6M from high-profile investors, including executives from Daiya and Disney, to support product innovation and expansion. Months later, it successfully entered two of Canada’s largest retailers, Walmart and Loblaws.
According to TMRW, the upcoming Sprouts launch will increase its North American distribution to 1,500 retail locations and 6,000 distribution points.
“It’s surreal. Since the end of last year, we have vertically integrated our protein production, doubled the size of our facility and quadrupled our distribution,” said Dean Blignaut, Co-Founder and CEO of TMRW. “To launch with Sprouts is indescribably gratifying. It’s an electric feeling.”
A relentless pursuit
The latest capital raise included investors Philip Donne, former CEO of Kellogg’s Canada, TELUS Pollinator Fund for Good, and further investment from existing stakeholders.
“We feel tremendously fortunate to be able to surround ourselves with values aligned, impact driven investors that fuel our ability to execute on our mission,” shared Blignaut. “TMRW believes the key to plant-based success is to relentlessly pursue the creation of plant-proteins that are more flavorful, more nutritious and more accessible than those in existence today. Everything we do is with that goal in mind. “
