PLANT POWER TO THE PEOPLE
The Cause: Prosper Sustainably
It’s no secret that livestock reared for human consumption create a lot of greenhouse gas: According to the FAO cows, pigs, sheep, chickens etc. account for 14.5% of global greenhouse gas emissions.
We’re also facing a problem with unsustainable agricultural practices: The Worldwatch Institute found that around 70% of agricultural land is used for animal pasture causing deforestation, biodiversity loss, and water pollution.
All this devastation just to feed our collective hunger for medium rare pot roasted rump, eggs, and fresh milk? We need to change our ways, and fast.
NotCo is an innovative food technology business that blends powerful machine AI, and good old-fashioned human taste buds to develop alternative, plant-based replacements for mayonnaise, milk, ice cream, meat and other animal-based products.
We’re convinced this investment represents a real opportunity to encourage sustainable farming and turn down the volume on that giant methane trumpet (without sacrificing flavour).
The Craftory leads the 30M USD round providing over 60% of the capital raised. Jeff Bezos’ family office Bezos Expeditions, alongside existing investors Kaszek Ventures and IndieBio are also participating in the round.
The investment will be used to fund new product development, like milk and ice cream, and support NotCo as the company branches out into new markets, including Mexico and US later this year.
Based in Chile, NotCo, is the brainchild of biotech guru Matías Muchnick, biochemist PabloZamora and computer scientist Karim Pichara. Launched in 2015, NotCo’s secret weapon is Giuseppe, a machine AI platform named after the famous Renaissance artist Giuseppe Arcimboldo, which analyses molecular structures to create unique food combinations derived only from plant-based ingredients. Same great flavour and texture, delighting consumer taste buds, but with exceptionally different, sustainable ingredients.
But it’s not all about technology. NotCo’s team of chefs and specialists verify and authenticate each combination to make sure that every product is wholesome and delicious. For example, NotCo’s first product, Not Mayo®, made from garbanzo beans, is currently flying off the shelves in 1000 stores across Chile (retailers including WalMart, Cencosud, Tottus, and Unimarc stores).
As a society we’re growing fast, with the UN estimating that by 2030 there will be 8.5 billion people. We’re also eating more than ever and the impact on our planet is devastating. According to the FAO, 7.1 gigatonnes of CO2 is produced each year from global livestock.
Environmentally-aware, health conscious consumers are reducing meat consumption and increasingly demanding sustainable alternatives that don’t harm the planet or their bodies, according to research from the Natural Resources Defense Council. And NotCo has been listening. By using machine learning techniques, NotCo has created substitutes that blend taste with texture, without costing the earth.
Matías Muchnick, Co-Founder & CEO at NotCo, commented: “It is a great endorsement to have both The Craftory and Bezos Expeditions invest in our business as we continue to innovate and create enjoyable, sustainable new alternative food products. Their expertise in both FMCG and technology will allow us to further disrupt the food industry and expand our offering to a global audience.”
Elio Leoni Sceti, Co-Founder & Chief Crafter at The Craftory, said: “NotCo is the epitome of a mission-driven challenger brand and has the energy and capabilities to topple the traditional food production giants. Their advanced thinking combines food tech, machine AI, and plant-based ingredients to create a sustainable non-animal protein source. We are thrilled to be working with Matías and the NotCo team as they transform the food production industry and give people the choice to consume environmentally-conscious products.”
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