NotCo Closes $70 Million in Series D1 Funding

by Kay Aloha Villamor in December 26th, 2022

NotCo, a New York-based fast-growing food tech company with a first-of-its-kind patented A.I. technology, Giuseppe, has announced it has closed $70 million in new funding as a Series D1.

The round was Led by Princeville Capital, an investment firm focused on backing rapidly-growing technology-related companies around the world, the Series D1 includes industry-leading existing backers, including Jeff Bezos through Bezos Expeditions, Tiger Global, L Catterton, Kaszek Ventures, Future Positive, and The Craftory. Apart from Princeville Capital, new investors in Series D1 include Marcos Galperin, founder, and CEO of the largest Latin American tech company, MercadoLibre. 

The new capital will catapult the company’s new B2B unit, which will enable other CPG brands, ingredient suppliers, and technology providers to leverage Giuseppe for their innovation purposes and exponentially accelerate the transformation of the plant-based industry. 

“Since day one, our mission has been to create a more sustainable world, transforming the food industry by creating delicious plant-based food available for all tables, kitchens, and pantries,” said NotCo co-founder and CEO, Matias Muchnick. “Building off the example of our joint venture with Kraft Heinz, we’re excited to develop new, impactful partnerships leveraging our proprietary technology. These partnerships will help diversify and accelerate our impact while scaling the accessibility of truly delicious plant-based options to further propel the industry forward.”

Through its new B2B platform, NotCo is making its technology available for more food and beverage manufacturers seeking to create best-in-class and scalable plant-based products. 

Company: The Not Company SpA

Raised: $70.0M

Round: Series D1

Funding Month: December 2022

Lead Investors: Princeville Capital

Additional Investors: Jeff Bezos, Tiger Global, L Catterton, Kaszek Ventures, Future Positive, and The Craftory, Marcos Galperin, MercadoLibre

Company Website: https://notco.com/

Software Category: Food Tech

About the Company: NotCo is an industry-changing, fast-growth food tech leader and the only global company disrupting massive food and beverage segments, including dairy, eggs, and meat, simultaneously. NotCo has launched products including NotMilk™, NotBurger™, NotMeat™, NotIceCream™, NotChicken™ and NotMayo™ across countries including the U.S., Brazil, Argentina, Chile, and Colombia and in less than three years became the fastest-growing food tech company in Latin America. NotCo utilizes a proprietary artificial intelligence technology, Giuseppe, which matches animal proteins to their ideal replacements among thousands of plant-based ingredients. Its one-of-a-kind technology enables NotCo to be a powering tool for food and beverage innovation, partnering with other companies to accelerate the transformation of the food industry

Source: https://www.businesswire.com/news/home/20221212005094/en/Global-Food-Tech-Unicorn-NotCo-Closes-70M-in-Funding-to-Fuel-New-B2B-Platform



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