Plant-based food startup NotCo raises $235M and becomes the newest Latam unicorn

LatamListNotCo, a plant-based food alternative company, raised a $235M funding round. The round was led by Tiger Global and included DFJ Growth Fund, ZOMA Lab, and athletes such as Lewis Hamilton and Roger Federer.

With the new funding, NotCo becomes the newest Chilean unicorn at a $1.5B valuation.

NotCo makes plant-based milk, burger patties, meat, and ice creams sold across Latin America. The startup currently operates in six countries in the Americas and has plans to expand into Asia and Europe.

The company launched its plant-based milk NotMilk in the United States seven months ago and is on track to reach 8,000 retail outlets by the end of the year.

“Lots of companies have reached out to NotCo to say ‘can you do a plant-based version of our products’,” said Matías Muchnick, CEO of NotCo.

The startup plans to invest in its artificial intelligence technology that explores new plant-based alternatives and to produce newer products for the North American market.

Read more on Reuters.

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