The company behind the world's first vegan egg - Eat Just announced that it has secured $200 million in a new funding round.
The investment round was led by the Qatar Investment Authority (QIA), joined by private investment firm Charlesbank Capital Partners and Vulcan Capital, the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen.
Eat Just is an industry-leading food tech startup, applying science and technology to create healthier, more sustainable foods for a better world.
The company has raised more than $650 million since its founding in 2011.
The latest funding will be used to build capacity for pioneering products; accelerate research and development programs and build its brands in key international markets.
“We are very excited to work with our investors to build a healthier, safer and more sustainable food system. Their knowledge and experience partnering with companies that are transforming numerous industries were fundamental in our decision to partner with them,” said Josh Tetrick, co-founder and CEO of Eat Just.
Eat Just is a food technology company with a mission to build a healthier, safer and more sustainable food system in our lifetimes.
Its award-winning JUST Egg egg replacement brand is already available in more than 20,000 retail points of distribution and 1,000 foodservice locations. The company now aims to bring its refrigerated and frozen formats of vegan eggs to millions more around the globe.
To date, Eat Just has sold the plant-based equivalent of 100 million eggs and one million U.S. households.
Eat Just offers plant-based egg scrambles, omelettes, quiches, stir-fries and baking applications. JUST Egg’s fluffy, pre-baked folded version quickly became the #1 selling frozen breakfast item at a top five US supermarkets.
More recently, the company also started making cell based meat.
Last year, Eat Just secured the first-in-the-world regulatory approval for real, high-quality meat created directly from animal cells for human consumption and weeks later made history when its GOOD Meat-branded cultured chicken was served and sold to guests for the first time at a restaurant in Singapore.
The company aims to focus on reducing cultured meat production costs; scaling commercial manufacturing operations; and advancing its work on other types of meat - all to make cell based meat more accessible and affordable to consumers.