Atlast Food Co., a company specializing in mycelium-based bacon and alternative meat products, has raised $40 million in Series A funding. A number of heavy-hitting investors partipated in the round, including Whole Foods, Stonyfield, Viking Global Investors, 40 North, Stray Dog Capital, and more.
According to Atlast, the newly acquired investments will go towards further developing and scaling its breakthrough technology to improve upon its signature MyBacon product, as well as begin producing whole cut plant-based meats -- a niche but emerging space within the vegan market.
"Atlast is creating a new category of plant-based foods by offering whole cut options. Mycelium, Atlast's unique ingredient, is nutritious, versatile, and scalable — consumers should get ready to see a lot more mycelium in their stores and on their plates," said the CEO at Stray Dog Capital, Lisa Feria.
Image Credit: Atlast
Key Themes Behind This Trend
- Mycelium-based Meat Alternatives
- Atlast's breakthrough technology using mycelium as a base for meat alternatives presents an opportunity for further innovation in the plant-based food industry.
- Whole Cut Plant-based Meat
- Atlast's focus on whole cut plant-based meats presents a disruptive innovation opportunity within the vegan market, attracting interest from investors such as Whole Foods and Stonyfield.
- Scalable Mycelium-based Ingredients
- Atlast's utilization of scalable and nutritious mycelium-based ingredients offers potential for disruption in the food ingredients industry.
Where This Applies
- Plant-based Meat
- Atlast's focus on mycelium-based bacon and plant-based meats presents an opportunity for innovation within the plant-based meat industry.
- Vegan Food
- Atlast's mycelium-based meat alternatives present an opportunity for further innovation and investment in the emerging vegan food market.
- Food Ingredients
- Atlast's utilization of mycelium-based ingredients presents potential for disruption within the food ingredients industry.
