Hungry Planet has closed an oversubscribed Series A funding round, with a total investment of $25 million.
Missouri-based plant-based meat brand Hungry Planet has raised $25 million after closing an oversubscribed Series A funding round.
The new investment will be used to accelerate Hungry Planet’s growth across retail, foodservice and e-commerce channels, both domestically in the US and internationally.
The funding round was led by POST Holdings, which was joined by Singaporean investment group TRIREC and other leading plant-based investors. The plant-based meat brand has a huge range of plant-based meat product, including vegan chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage, and Italian sausage. Noting the rise in demand for plant-based protein, with last year seeing record investment in the category, the team decided to scale now.
The brand was founded by siblings Jody and Todd Boyman. “We’ve been joined by some amazing partners in our mission to create and deliver the most complete range of chef-crafted plant-based meats on the planet,” said Todd, who is the CEO of the company. “This Series A investment will allow us to expand further and faster.
“Over the past several years, we’ve been quietly piloting our full range of chef-crafted, nutritious plant-based meats in select foodservice and retail markets domestically and internationally. With over 4 million servings sold globally, we’ve validated that our full range works perfectly in any cuisine, any recipe, any venue, and any geography.”
He revealed that the brand has seen tremendous success in foodservice and is now developing a following in retail: “Our broader retail launch is currently rolling out across the USA and Singapore, and we are excited for the additional growth opportunities this funding provides.”
Jody added: “While others in this category are still working on beef and burgers, Hungry Planet is delivering on a much broader range featuring craveable taste and texture with demonstrably superior nutrition.”