LIVEKINDLY raises $135m for plant-based meat alternatives portfolio

Foodtech startup LIVEKINDLY Collective has raised $135m in a venture round led by Blue Horizon Corporation to grow its portfolio of plant-based meat alternatives.

In addition to the existing shareholders, Griffith Foods, as well as investment firm EQT and a syndicate from Asia led by Trustbridge Partners, participated in the funding round.

LIVEKINDLY Collective chairman and CEO Kees Kruythoff said: “We see significant investor interest increasing around our movement.

“Through our plant-based food platform, we’re committed to ethically and environmentally-friendly practices in everything we do. We are also uniquely positioned to scale rapidly and transform the current global food system.”

The company will use a significant portion of the proceeds to fund the launch of its brand portfolio in the US next year.

The money will also be used for the development of new products such as plant-based chicken and eggs.

Currently, LIVEKINDLY Collective’s brands including The Fry Family Food Co, LikeMeat, and Oumph! are available in select markets across Europe, Africa and Australia.

LIVEKINDLY Collective chief financial officer David Knopf said: “Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need.

“Our plans to accelerate business growth not only meet the demand of consumers for healthier and more environmentally friendly products but also creates an attractive investment opportunity behind a purpose-driven business model.”

With the latest funding round, LIVEKINDLY Collective has raised a total capital of $335m this year, making it one of the highest funded plant-based food companies in the global market.

In June, Livekindly Co. announced the acquisition of Swedish food brand Oumph!

Oumph! products are currently available across the UK and Nordic countries, and the brand recently expanded its product footprint at Jumbo in the Netherlands, along with Fry’s and LikeMeat.