Eat Just Closes $200M Funding Round To Expand As Sustainable Food Company

Eat Just is among the latest food technology companies dedicated to food chain sustainability dominating financial media headlines. On Tuesday, the San Francisco-based company said it secured $200 million in new financing backed by some heavyweight names.

What Happened: Eat Just manufactures plant-based eggs and meat-alternative products made from animal cells. In fact, Eat Just secured the world's first regulatory approval for meat-cultured products created from animal cells for human consumption in 2020.

The company has now raised more than $650 million since its founding in 2011. The most recent round was backed by Vulcan Capital, the investment arm of the estate of Microsoft co-founder Paul G. Allen; the private investment firm Charlesbank Capital Partners and Qatar Investment Authority, the sovereign wealth fund of the State of Qatar.

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Why It's Important: Eat Just's egg alternative product is already available at more than 20,000 retail points of distribution and 1,000 foodservice locations. To date, the company sold the plant-based equivalent of 100 million eggs.

The company also has attractive partnerships with the likes of Peet's Coffee to collaborate on a new Just Egg sandwich. Eat Just also has a partnership in China with Dicos, one of the country's top fast-food chains.

Other agreements include one with Cuisine Solutions to manufacture Just Egg Sous Vide products.

What's Next: Eat Just continues to work towards addressing the $13 billion meat-cultured market by 2030, at which point meat-cultured chicken could rival traditional chicken in terms of price.

(Photo: Eat Just)