Rebellyous Foods will be well known to most vegconomist readers as the chicken industry-disrupting foodtech company backed by the vegan Saudi Prince Khaled amongst other high profile investors. Rebellyous raised $6M in Series A funding in 2020 for its unique technology which produces cost-efficient, realistic chicken alternatives, and last month pivoted into retail with three new products.
AI Recipe Formulation Platform “Proxy Foods” Raises $2.3M to Make Tasty & Nutritious Alternatives More Quickly
Washington-based Proxy Foods, a software developer for the F&B industry, has raised $2.3 million in a seed round for its AI platform that promises to solve the most complex challenges in food and recipe formulation more quickly: flavor, nutrition, and sustainability. The round was led by Ted Leonsis, Proxy Foods’ co-founder and renowned sports entrepreneur, and the co-founders of CAVA Group Inc., Ike Grigoropoulos, Ted Xenohristos, and Dimitri Moshovitis. Investors Anthony Nader and Fredrick Schaufeld from SWaN & Legend Venture Partners, Robert G. Hisaoka from RGH Capital, and industry veteran Richard Ware backed the AI recipe formulation platform in this round. With the new capital, Proxy Foods will expand its team to accelerate product development and innovation and address the evolving demand for tasty, nutritious, cruelty-free, and …