LOS ANGELES — Future Farm, a producer of plant-based meat, has raised $58 million in a Series C funding round led by BTG Pactual and followed by Rage Capital.
Founded in 2019, Future Farm offers premium plant-based patties, formulated with soy, peas, chickpeas and beetroot, that are priced competitively at more than 10,000 retail locations throughout Europe, Latin America, Asia Pacific and, recently, the United States. The company is developing its proprietary True Texture Technology to create plant-based replacements that look, cook and taste like conventional animal products.
To date, the company has raised a total of $89 million and is now valued at $400 million. Future Farm used proceeds from earlier funding rounds to accelerate product development and expand into additional markets around the world. The company plans to use the latest funding to continue these efforts while advancing its goal of using 100% sustainable and plant-based packaging composed of sugar cane.
Future Farm launched in the United States earlier this year. The US business is led by Alexandre Ruberti, a 25-year industry veteran who previously led Red Bull North America. Following the introductions of Future Burger, Future Sausage, Future Beef and Future Meatballs, the company plans to debut Future Tuna and Future Chick’n and will expand into plant-based drinks and dairy segments.
“We’re incredibly proud of this investment and those behind it, not only to validate the immense opportunity that exists within the category, but also to mark a new chapter for Future Farm, as we work toward innovating more plant-based offerings to create a portfolio inclusive of meat, seafood, poultry and dairy,” said Marcos Leta, founder of Future Farm. “In order to change the way the world eats, by making slaughterhouses and animal-protein products obsolete, we will continue bringing consumers into the category with quality, variety and flavor, and delivering joy and deliciousness to the experience of plant-based eating.”