Plantible Foods Secures Funding to Expand Operations and Production

Elevating Food Production with Plantible Foods' New Funding

Company Set to Enhance Manufacturing Operations to Meet Rising Demand

In an exciting development for the food innovation sector, Plantible Foods, a pioneering technology company in plant-based protein, has recently secured $30 million in its Series B funding round. This funding, aimed at boosting manufacturing and production capabilities, comes as the demand for their innovative product, Rubi Protein™, skyrockets in today's market.

A Mission to Revolutionize Food Supply Chain

Founded in 2018 by visionary entrepreneurs Tony Martens Fekini and Maurits van de Ven, Plantible Foods is on a quest to transform the global food supply landscape. The company is dedicated to harnessing the power of Lemna, commonly known as duckweed, to produce their flagship ingredient, Rubi Protein. This remarkably functional protein stands out for its nutritional benefits and versatility in various food applications.

The Evolution of Food Ingredients

Historically, the food industry has relied on traditional methods and sources for too long, leading to stagnation in food health as challenges like diseases, geopolitical risks, and climate change pressure these supply chains. However, Plantible Foods has emerged as a game-changer in this space. The company's innovative solutions address the pressing need for healthier, more sustainable food sources.

Rising Demand Drives Expansion

As Plantible Foods recognizes an ever-growing demand for its products, the company continuously strives to provide cleaner and allergen-friendly alternatives to the food industry. Their Rubi Protein has proven to have superior functional and nutritional properties compared to existing animal and other plant-based proteins, allowing food companies to enhance their offerings without compromising on taste or health aspects.

The Impact of the Recent Funding

Tony Martens Fekini, the CEO of Plantible Foods, has expressed enthusiasm about the recent financial support. "We are thrilled to partner with backers who share our goal of reshaping the global food landscape and promoting a healthier planet. This funding will significantly enhance our manufacturing capabilities to keep pace with the soaring demand for Rubi Protein," he said. The firm aims to set a new benchmark in the protein industry, focusing on both quality and sustainability.

Plantible’s New Manufacturing Facility: “The Ranchito”

With the Series B investment, Plantible is set to advance its manufacturing operations at its first commercial establishment, known affectionately as "The Ranchito." This impressive 100-acre facility is envisioned to fulfill multi-million dollar agreements with several major food corporations, driving Plantible’s revenues to potentially increase tenfold in the coming year.

Acknowledgment from Industry Leaders

The significance of Plantible's groundbreaking approach has not gone unnoticed. Industry partners such as Siddhi Capital have recognized the need for innovative solutions to the challenges facing food production. Steven Finn from Siddhi stated, "Their technology and privatized agricultural manufacturing cater to customers at a massive scale while striving for improved supply chain sustainability. This positive impact extends well beyond just plant-based options."

A Commitment to Sustainable Practices

As consumer preferences lean towards transparency and environmental responsibility, Plantible prides itself on its clean label promise. This commitment resonates with both clients and their customers, emphasizing the importance of delivering healthy, sustainable protein options without sacrificing quality. Issam Dairanieh, Venture Partner at Piva Capital, emphasized the critical role that Plantible plays in the urgent need for innovation within the food supply chain.

About Plantible Foods

Plantible Foods operates primarily within the business-to-business sector, aiming to produce the most functional plant-based protein available globally by utilizing Lemna, recognized for its sustainability and rich nutrient profile. This goal underscores the company's commitment to fostering a healthier food production system for all.

Connecting with Investors and Partners

The growing interest in Plantible Foods from various investors highlights the company’s potential to disrupt traditional food supply chains. With financial backing, they are poised to impact not just the plant-based sector but also the entire landscape of food production.

Frequently Asked Questions

What is Rubi Protein?

Rubi Protein is a highly functional protein derived from Lemna, promising enhanced nutritional value and versatility for food products.

Why did Plantible Foods raise $30 million?

The funding aims to expand manufacturing capabilities to meet the increasing demand for sustainable and allergen-friendly food ingredients.

What is the significance of “The Ranchito”?

The Ranchito is Plantible's first commercial plant, crucial for fulfilling large contracts and significantly increasing revenue over the next year.

How does Plantible Foods ensure its products are sustainable?

By focusing on clean labels and functionality, Plantible offers ingredients made from sustainable sources while promoting healthier food options.

Who are the founders of Plantible Foods?

Plantible was founded in 2018 by Tony Martens Fekini and Maurits van de Ven, who aim to innovate within the food supply chain.

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