After recently raising $170 million for the expansion of its cell-based meat division GOOD MEAT, San Francisco startup Eat Just is considering making moves towards an IPO in Q4 of this year or Q1 of the next. With a target valuation of $3 billion, the IPO could potentially establish Just Eat at the forefront of the cell-cultured meat revolution.
According to a report from Forbes, the producer of the industry-disrupting plant-based JUST Egg is targeting “at least” $3 billion in valuation in its potential public listing, with Co-founder and CEO Josh Tetrick confirming an IPO is “definitely getting closer.”
Recently named as a “World-Changing Company of the Year” by Fast Company, Eat Just is said to be on track to reach several breakthroughs with its operating profitability this year, while also building a large-scale manufacturing facility in Singapore. The rapidly growing startup recently became the world’s first company to sell cell-cultured meat in the Asian city-state, which boasts progressive regulations for the burgeoning cell-cultured industry.
Tetrick has predicted that such regulatory pathways in the US for the sale of cell-cultured meat could be in place within the next year and anticipates China will then adapt its own industry regulations in what could be a global domino effect. Eat Just is currently active in China as it supplies JUST Egg to Chinese fast-food chain Dicos, with a European launch expected later this year.
Despite the IPO speculation, Eat Just has never struggled to raise funding, with a total of $440 million invested to date, including a recently closed $200 million raise led by the Qatar Investment Authority.