Nowadays Ceases Operations After Struggling to Raise Venture Funding
Nowadays, a San Francisco-based alt chicken brand best known for its clean-label plant-based nuggets, has ceased operations. The brand, backed by meat packer Standard Meat Company, was founded by Max Elder and Dominik Grabinski. Grabinski previously worked for DSM as well as poultry giant Cargill, while Elder was advisor to Nestlé, General Mills and the Bill & Melinda Gates Foundation’s Nutrition Program. Co-founder and CEO Max Elder told AgFunderNews that the products were performing well, with high repeat purchase rates. However, he explained that Nowadays has struggled to raise funding in the current climate, and does not have the economies of scale required to profitably distribute frozen foods. “The economics only work if you have the capital to really push a multi-year brand building and …