LatamList – Fazenda Futuro, a Brazilian foodtech, raised $25M (R$115M) for plant-based meat alternatives. Investors included BTG Pactual, ENFINI Investments, and Turin MFO with follow-on from Monashees and Go4it Capital.
Fazenda Futuro develops plant-based meat replacements made from isolated pea proteins, soybeans, and chickpeas. The company provides marketplaces across the world with its vegan alternatives, including GPA, Carrefour, and Makro.
The startup launched a plant-based sausage to replace pork earlier this year in March. The most recent funding round will allow Fazenda to continue developing new meat alternatives, expand the startup’s product line, and launch into new markets.
Currently, the startup has an estimated 2,000 selling points across Brazil, and launched into the European market at the end of 2019. According to Exame, the next market for the foodtech is the United States.
Read more on LAVCA.