SACRAMENTO, CALIF. — Food tech startup The Better Meat Co. closed an $8.1 million seed round, bringing its total amount raised since launching in 2018 to $9.7 million.
The ingredients company supplies plant protein formulas to meat companies. Perdue Farms, for example, uses Better Meat Co.’s ingredients in its line of Perdue Chicken Plus nuggets.
“Meat consumers are increasingly diversifying their protein sources, and enhancing meat with delicious plant protein formulas is a win-win for the consumer and the planet,” said Paul Shapiro, chief executive officer at Better Meat Co.
The seed round was co-led by Greenlight Capital and Green Circle Foodtech Ventures. Johnsonville Holdings, parent of company of Johnsonville Sausage, and Lever VC also participated in the round.
“We were amazed by The Better Meat Co.'s ability to provide its customers with clean label plant-based formulas that blend seamlessly into ground meats, often at a lower cost,” said Stu Strumwasser, managing director of Green Circle Capital and a member of Better Meat Co.’s board. “We were also drawn to these thought leaders’ strategy of partnering with major meat companies to immediately make an environmental and public health impact.”
The company’s flagship meat enhancers are allergen-free, clean label, and cost competitive with conventional meats. Along with beef and chicken, it offers enhancers for pork, turkey, fish and crab products.