Plant-based chicken company Daring Foods announces a massive $40M Series B funding round led by D1 Capital Partners. Musician Drake has also joined the round, along with existing investors Maveron and Palm Tree Crew, to support Daring’s leading position in the plant-based industry.
“I was immediately drawn to the Daring team’s mission to transform how we eat and I am excited to invest in and support a product I enjoy,” said Drake.
Founded in Glasgow by Ross Mackay and Eliott Kessas in 2017 the company moved to New York just a year later. The brand launched its first chicken alternative products in the US in 2019. Daring plant-based chicken is made from five non-genetically modified ingredients — water, soy, sunflower oil, salt and natural seasoning (a mix of paprika, pepper, ginger, nutmeg, mace, cardamom).
“This is so much more than an investment in Daring, it’s an investment in the future of food,” said Daring’s CEO and Co-Founder, Ross Mackay. “This past year has been transformative for us—from launching new products and growing our presence in retail and foodservice to expanding our market share. We are so fortunate to have such visionary investors fueling our company’s future and furthering our mission.”
Daring will use this round of funding to triple its internal team by the end of 2021, dramatically scale its rapid retail and foodservice growth, and set the stage for future innovation and product development.
Since the brand’s $8M Series A raise in October 2020, Daring has added more than 1000 retail locations, including Costco, Wegmans, Kroger, Imperfect Foods, and more. Daring will add several nationwide retailers to its roster in the coming months, increasing accessibility for consumers through brick-and-mortar and DTC offerings.
Additionally, Daring’s CEO & Co-Founder, Ross Mackay, was on the 2021 Forbes 30 Under 30 list, received notable recognition as one of Fast Company’s World Changing Ideas 2021, and won NOSH’s Best New Product of 2020 award.
“This past year has been transformative for us—from launching new products and growing our presence in retail and foodservice to expanding our market share. We are so fortunate to have such visionary investors fueling our company’s future and furthering our mission.”
“Daring has demonstrated impressive product-market fit in a short period of time,” said Michael Tully of D1 Capital Partners. “The brand has a significant growth runway ahead of it as the chicken market remains underpenetrated by plant-based products. Ross and his team are best-in-class leaders, and we are excited to be a part of Daring’s continued success.”
Daring is the leader in clean plant-based chicken. Daring was founded by Ross Mackay and Eliott Kessas in 2018 with a clear goal in mind: to remove chicken from our food system. Daring launched in the U.S. in 2020 with its mission to create a more sustainable, delicious, and nutritious plant-based protein option for an audience that consumes chicken multiple times per week. Daring Pieces are available in Original Pieces, Lemon & Herb Pieces, Cajun Pieces, and Original Breaded Pieces. Each Daring product is 100% plant-based with 14g of protein per serving, non-GMO ingredients, and all-natural spices.