Company Raises Over Half a Billion in a Year
The LIVEKINDKLY startup company secured $335 million in new funding, including $135 million converted from a previous round, taking its total funds raised to $535 million in the company’s first year. Following the latest round, the startup is now one of the best-funded and fastest-growing plant-based food businesses in the world.
“Our mission is to make plant-based living the new norm, creating a healthier, more sustainable global food system through our international portfolio that meets local tastes,” said David Knopf, the chief financial officer of LIVEKINDLY Collective.
“With the close of this funding round, we are ideally positioned to rapidly scale our model and lead the global consumer shift toward healthy, delicious, and sustainable plant-based alternatives.”
The group says it will use the proceeds to expand into other markets, including the United States (US) and China, as well as make select business acquisitions and invest in plant-based innovation.
“In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents. We believe the momentum behind plant-based living will continue to grow in both the private and public markets,” said Roger Lienhard, founder of LIVEKINDLY startup.
The leader of the latest round, the Rise Fund, is a global impact investing business platform known for supporting high-potential and mission-driven startups working to make business profits while fighting to achieve the UN Sustainable Development Goals (SDG).
Backing LIVEKINDLY marks the Rise Fund’s second large-scale business investment in the global plant-based ecosystem.
LIVEKINDLY Collective manages five plant-based companies, including The Fry Family Food, LikeMeat, Oumph!, No Meat, and LIVEKINDLY. The company has about 470 employees around the world.
The startup company was founded last year and made its US retail debut at Sprouts Farmers Market locations across the country, where it introduced several of its plant-based products, such as Like Chick'n from LikeMeat and The Fry Family Food frozen meat alternatives.
LIVEKINDLY is on a global mission to alter the food sector and make and promote plant-based chicken as the most affordable protein in the world, said the company’s chief executive and chairman, Kees Krufythoff.
It is estimated that the global plant-based meat market by revenue is expected to grow at a compound annual growth rate (CAGR) of more than 18% between now and 2025.
LIVEKINDLY Collective, a startup that manages five plant-based heritage and startup brands, announced today it raised $335 million in new funding, led by The Rise Fund. The startup said it will use the new capital to expand its business into the US and China, as well as for other company acquisitions and plant-based innovation.