LIVEKINDLY Collective, the shouty dad or mum firm behind a household of plant-based meals brands, has snagged money from the world affect investing arm of $103 billion funding agency TPG to close its newest round of funding at $335 million.
The firm’s fundraising reveals that buyers nonetheless have excessive hopes for plant-based meals brands and that regardless of the cash that’s flowed to firms like Beyond Meat and Impossible Foods — and the resurgence of older brands in the class like Quorn or Kelloggs’ Morningstar Farms — there’s nonetheless a wholesome urge for food amongst buyers for extra brands.
LIVEKINDLY was based by some heavy hitters from the meals business, together with Kees Kruythoff, the former president of Unilever North America; Roger Lienhard, the founder of Blue Horizon; and Jodi Monelle, the chief govt and founder of LIVEKINDLY Media. Food business veterans like Mick Van Ettinger, a former Unilever worker, and Aldo Uva, a former Nestlé worker, round out the group.
Founded as a rollup for a quantity of completely different vegetarian and various protein meals brands, the LIVEKINDLY Collective is now one of the largest plant-based meals firms, by funding.
The firm mentioned it could use the cash to broaden into the U.S. and China and to energy extra acquisitions, partnerships and investments in plant-based meals.
The firm raised cash beforehand from S2G Ventures and Rabo Corporate Investments, the funding arm of the large Dutch monetary providers agency, Rabobank.
Fundamentally, the founding buyers behind LIVEKINDLY consider that the expertise has a lengthy way to go earlier than it matures. And it’s doubtless that this newest round will likely be LIVEKINDLY’s final earlier than an preliminary public providing of its personal.
“We are building a global pureplay in plant-based alternatives — which we believe is the future of food,” mentioned Roger Lienhard, founder and govt chairman of Blue Horizon and founder of LIVEKINDLY Collective. “In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents. We believe the momentum behind plant-based living will continue to grow in both the private and public markets.”
As a outcome of its funding, Steve Ellis, co-managing companion of The Rise Fund, has joined the LIVEKINDLY Collective board of administrators, efficient March 1, 2021.
“We are excited to work with LIVEKINDLY Collective and its ecosystem of innovative companies and world-class leaders to meet the growing global demand for healthy, plant-based, clean-label options,” mentioned Ellis. “The company’s unique, mission-driven model operates across the entire value chain, from seed to fork, to drive worldwide adoption of plant-based alternatives and create a healthier planet for all.”
