Vegan food unicorns are taking over the market

first_img Save my name, email, and website in this browser for the next time I comment. The Anatomy of Fear For your vegan and vegetarian friends… and those with an eye for potential stocksFocus on BusinessFrom The HustleThere’s a new cow in town, and this one really is ready to jump over the moon.NotCo is a Bezos-backed plant-based protein company from Chile that makes vegan milk, mayonnaise, ice cream, and burgers.They’ve raised $120m so far thanks to Giuseppe, their patented AI software, which helps them analyze and develop new product recipes.Now, they’re eyeballing a $1B valuation as they expand further into the US, Canada, and Mexico.There’s a surprising number of vegan moo-nicornsAccording to Lever VC, a leading investor in the alt-protein space, the plant-based meat and dairy industries are worth a combined $22B and are growing fast.Just Inc. (plant-based eggs) is valued at $1B+.Beyond Meat (plant-based meats) has an $8.8B market cap.Oatly (oat milk) recently raised $200m at a $2B valuation and is reportedly targeting a $10B IPO.The industry is projected to grow 31% YoY, reaching $85-$140B in the next 10-15 years — and, most likely, minting several new billion-dollar companies along the way.The first-ever Chilean unicorn?There’s another interesting angle here: If NotCo does hit a $1B valuation, it’ll be Chile’s first unicorn startup — vegan or not.Despite pandemic woes, Latin America saw a record 488 VC deals in 2020, and Mexico and Uruguay minted their first billion-dollar startups.NotCo — which so far only operates in Chile, Brazil, Argentina, and the US — is projecting 4x sales growth in 2021 as they move into even greener pastures. Support conservation and fish with NEW Florida specialty license plate Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address herecenter_img LEAVE A REPLY Cancel reply TAGSBusinessChileGrowthJeff BezosNew ProductsNotCoOpportunityPlant-based ProteinThe HustleVeganVenture Capital Previous articleCommon Mistakes You Should Avoid When Forming Your First Corporate EntityNext articleFlorida not expanding Medicaid but extending postpartum coverage from two to 12 months Denise Connell RELATED ARTICLESMORE FROM AUTHOR Please enter your name here Please enter your comment! Unicorn gif courtesy of The Hustlelast_img