Lewis Hamilton Join $235 Million Investment in Vegan Meat and Dairy Brand NotCo


 

NotCo, a Chilean food technology firm that makes NotMilk, NotBurger, NotIceCream, and NotMayo, just secured $235 million in a Series D investment round.


Tiger Global led the round, which includes vegan racing car champion Lewis Hamilton, singer Questlove, and Twitter CEO Jack Dorsey as participants.


NotCo has a market capitalization of $1.5 billion. 

NotCo intends to use the fresh funds to expand into new product categories in North America and scale its AI technology.


NotCo products are currently accessible in over 6,000 retail and restaurant outlets across the US and Latin America.


NotCo's NotMilk is now available in the United States at Sprouts, Whole Foods Market, and Wegmans, and all of NotCo's goods, including NotIceCream, NotBurger, NotMeat, and NotMayo, are available in Chile, Brazil, Argentina, Columbia, and, shortly, Mexico.

By the end of the year, the firm hopes to have its products in 8,000 stores throughout the globe. 

NotCo takes a technological approach to food manufacturing.


The startup, which employs 250 people and includes culinary chefs, biologists, engineers, and designers, utilizes a sophisticated algorithm to investigate ingredients and make plant-based cuisine that tastes, smells, and looks just like animal-based food. 

To produce its vegan milk, ice cream, burgers, and mayonnaise, the firm employs unusual ingredients including pineapple, coconut, cabbage, peas, bamboo, beets, and chickpeas.


Its goal is to duplicate animal-based goods using more environmentally friendly plant components, eliminating the need for animals in the food system.


Peas, chicory root, pineapple and cabbage juice, and coconut are used to make its NotMilk, which is available in “2 percent,” “reduced fat,” and “whole” variants.


NotCo claims that the product consumes 74% less energy, 92% less water, and emits 7% less CO2 emissions than dairy-based milk.



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