ST. LOUIS--(BUSINESS WIRE)--Hungry Planet, Inc., a leading plant-based meat company headquartered in St. Louis, Missouri, announced today that it closed an oversubscribed $25 million Series A financing round. This round of funding will be used to build capacity for Hungry Planet’s breakthrough plant-based meats, and accelerate growth across retail, foodservice and e-commerce channels, both domestically and internationally.
Post Holdings (NYSE: POST) led the round, joined by Singaporean investment group TRIREC, and included other leading plant-forward investors. With the market value of plant-based meat expected to reach $35.4 billion by 2027, Hungry Planet determined that now is the time to scale. “We’ve been joined by some amazing partners in our mission to create and deliver the most complete range of chef-crafted plant-based meats on the planet. This Series A investment will allow us to expand further and faster,” said Todd Boyman, CEO and co-founder of Hungry Planet with co-founder and sister Jody Boyman.
“Over the past several years, we’ve been quietly piloting our full range of chef-crafted, nutritious plant-based meats in select foodservice and retail markets domestically and internationally. With over 4 million servings sold globally,” said Mr. Boyman, “we’ve validated that our full range works perfectly in any cuisine, any recipe, any venue, and any geography.”
During its pilot phase, Hungry Planet experienced overwhelming demand for its full range of non-GMO plant-based meats as customers discovered that there is much more to this category than simply beef, burgers and brats. Uniquely, Hungry Planet’s range includes chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage, and Italian sausage - all in a variety of forms
“By delivering on taste, health and variety, we have seen tremendous success in foodservice and are now developing a deeply loyal and enthusiastic following in retail,” continued Mr. Boyman. “Our broader retail launch is currently rolling out across the USA and Singapore, and we are excited for the additional growth opportunities this funding provides.”
Whether eating Hungry Planet crispy fried chicken, breakfast sausage, BBQ pork burnt ends, or any of the other meats in the range, most diners simply can not tell the difference between Hungry Planet Meats™ and conventional meats. “Hungry Planet is the first and only company to deliver a complete range of plant-based meats,” Ms. Boyman said. “While others in this category are still working on beef and burgers, Hungry Planet is delivering on a much broader range featuring craveable taste and texture with demonstrably superior nutrition.”
About Hungry Planet®
Hungry Planet, Inc. is a mission driven plant-based meat company headquartered in St. Louis, Missouri. The company’s mission is to bend the curve on personal and planetary health through delicious, nutritious plant-based meats. Hungry Planet is a leader in the plant-based meat industry, and offers the largest range of chef-crafted meats that match traditional meat textures and tastes with healthful, non-GMO plant-based ingredients. Developed to delight the demanding tastes of everyone at the table, Hungry Planet's craveable 100% plant-based meats use fewer resources from plant to plate. Hungry Planet® is better for consumers and the environment, while offering demonstrably superior taste, texture, and nutrition; packed with protein and fiber, with fewer calories and less fat (no saturated) than conventional meat and other plant-based meats. Join us at HungryPlanetFoods.com or on social media @HungryPlanetFoods.