NotCo raises $235m in series D to expand its global plant-based meat, dairy empire

The brand, which launched five years ago and now operates in five countries in retail and foodservice, was recently granted a first-of-its kind US patent​ for its AI technology (‘Giuseppe’), which it claims gives it an edge in the race to reverse engineer animal foods and put them back together – molecule by molecule – with plants, creating next-generation meat, egg, and dairy alternatives.

Founder and CEO, Matias Muchnick said the new funding would support NotCo’s expansion into new categories in North America (it entered the US market seven months ago with NotMilk and is on track to reach 8,000 doors by the year end), scale its AI technology, and accelerate plans to launch in Europe and Asia.

Billed as the ‘Impossible Foods/Beyond Meat of Latin America’ (NotCo’s plant-based RebelWhopper is sold at Burger King and Papa John’s in Chile with more countries to follow soon), NotCo​​​sells plant-based milk, burgers, mayo, and ice cream in major retailers and QSR chains in Chile, Argentina, Brazil, and Colombia; and is planning to move into Mexico and Canada this year, before moving into European and Asian markets at a later date, said Muchnick, who recently moved from Chile to New York to spearhead the company’s US expansion.

Asked what products might be next in the US, he told FoodNavigator-USA: “We are actively looking at all major animal-protein categories, with a focus on categories that have already successfully launched in other markets. For example, NotBurger and the recently launched NotMeat in Latin America.

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