Brazil-based Future Farm, a plant-based food and lifestyle brand raised USD 58 million on 4th November.
Investors: The round was co-led by BTG and Rage Capital, and existing investors Monashees, Go4It Capital, Turim MFO, and Enfini Ventures joined in, as did new investors XP Inc. Future Farm has raised over USD 89 million (including Series C funding) and has been valued at over USD 400 million.
Purpose of funding: Funds will be used by Future Farm to expand internationally and to develop new and improved products. Additionally, these funds will be used to develop alternative protein products. Future Farm’s current product line includes Future Burger, Future Meatballs, Future Beef, and Future Sausage. There are no animal products in the lineup, and all of them are vegan. Packaging is the last element Future Farm plans to invest in with Series C funding. Future Farm says it is committed to providing its products with “100% sustainable and plant-based packaging”. According to Future Farm’s website, the trays are biodegradable and their packaging is currently made from sugar cane.
About Future Farm
Founded in 2019 by Marcos Leta and Alfredo Strechinsky, Future Farm (Fazenda Futuro) manufactures foods made from plants, disrupting the animal-origin industry. Currently, Future Farm is available on a number of U.S foodservice platforms, including Vejii and Hungry Harvest, and is slated for expansion into retail and online. At present, the company is present in over 20 countries in Latin America, Europe, Canada, and the Middle East.
As of July, the company has launched in the United States, and US CEO Alexandre Ruberti has predicted that by the next upcoming years, it will achieve 65% of its sales here. It began when South America had the highest per capita consumption of beef. In fact, environmental experts have linked South American deforestation to animal agriculture. Considering recent shifts to plant-based diets, experts predict it will account for a substantial market share.
What the founder has to say
“We’re incredibly proud of this investment and those behind it, not only to validate the immense opportunity that exists within the category but also to mark a new chapter for Future Farm, as we work towards furthering our plant-based offerings and creating a portfolio inclusive of meat, seafood, poultry, and dairy. In order to change the way the world eats, by making slaughterhouses and animal-protein products obsolete, we will continue bringing consumers into the category by delivering on quality, variety, and flavour with our products, and bringing joy and deliciousness to the experience of plant-based eating,” said Marcos Leta, co-founder at Future Farm.
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