NOTCO CAN DO
THE CRAFTORY INCREASES ITS PARTNERSHIP WITH NOTCO BY PARTICIPATING IN $85M SERIES C.
The Craftory is participating in NotCo’s latest 85M USD Series C round, significantly upping the existing Series B investment of 18M USD. Sharing the round alongside The Craftory is current investor Kasek Ventures. Highly regarded funds Future Positive and L Catterton also join this round.
The investment will be used to fund NotCo’s imminent US launch, as well as the ongoing development of category redefining plant-based food. NotCo is evaluating food service and retail partners as a part of this scaleup and global expansion, building from successful NotBurger and NotMeat partnerships with Burger King and Papa John’s in Chile.
THE CAUSE: PROSPER SUSTAINABLY, DELIVER GOOD HEALTH
This isn’t science fiction, this is science fact: NotCo’s machine AI (affectionately named Giuseppe) analyses animal-based produce at the molecular level and generates plant-based equivalents that not only look and taste as good, but critically, perform equally in the kitchen.
The upside? Massive sustainability gains, an easy transition for progressive consumers, and significantly healthier alternatives for the foods we love - from milk and ice cream to mayo and meat, NotCo’s products are just better than the competition.
ENVIRONMENTAL FACTS
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.
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.
MATÍAS MUCHNICK, CO-FOUNDER & CEO AT NOTCO, COMMENTED:
"We have the absolute best partners to embark with us on this journey. The Craftory’s expertise in both FMCG and technology will allow us to further disrupt the food industry and expand our offering to a global audience, Future Positive bring a deep knowledge of the tech environment, and L Catterton provide unparalleled experience partnering with leading brands globally.”
ELIO LEONI SCETI, CO-FOUNDER & CHIEF CRAFTER AT THE CRAFTORY, NOTED:
“To my knowledge no other brand in this space has the scientific expertise to create plant-based food that looks, feels, and - uniquely - behaves just like the animal-based produce it replaces. Thanks to NotCo consumers can make an easy and seamless change to a more sustainable way of living. That's why we led NotCo’s Series B and continue to invest in this excellent business”.
ABOUT NOTCO
NotCo is an industry pioneer built using a proprietary technology that can match animal protein to its ideal replacement among thousands of plant-based ingredients.
NotCo is the only global company to launch products disrupting massive food and beverage segments including dairy, eggs and meat simultaneously. The company has launched NotMilk, NotBurger, NotIceCream and NotMayo in Brazil, Argentina and Chile, and in less than 3 years has become the largest and fastest growing food-tech company in Latin America.
NotCo’s co-founders Matías Muchnick (CEO), and Karim Pichara (CTO), will be based in the US to accelerate the expansion.
ABOUT THE CRAFTORY
We are Cause Capital: Based in London and San Francisco, The Craftory is a $375M global investment house focused exclusively on amplifying the world’s boldest consumer brands. We offer permanent, early stage and growth capital to cause-driven CPG brands that positively impact the categories they serve, society, and the planet.
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