The Jeff Bezos backs NotCo has become a unicorn.
NotCo, a plant-based food alternative company, raise $235 million in funding on Monday. The new round of funding brings the company to a $1.5 billion valuation.
The latest round of funding is lead by Tiger Global. Other investors include Tennis legend Roger Federer, race car driver Lewis Hamilton, and DJ Questlove. Bezos invested $30 million in 2019 after the company launched their mayonnaise alternative.
In 2020, NotCo launched their NotMilk line in the United States.
“Our patented A.I. gives us a significant competitive advantage due to the speed and accuracy with which we’re able to develop and bring new products to market,” NotCo Founder and CEO Matias Muchnick said in a statement.
Plant-based meat alternatives and dairy alternatives have been on the rise over the last few years.
