Veggie burger start-up Beyond Meat set for New York stock listing
Beyond Meat joins other start-ups, such as Impossible Foods which is known for its bleeding meat burger and is backed by Google, in targeting changing dietary habits among consumers.
MATTHEW FIELD: ‘A start-up backed by Microsoft founder Bill Gates that develops vegan alternatives to burgers, bangers and other staple mealtime meats is planning to raise $100m in a New York listing. Beyond Meat, a start-up that sells meat-like vegetarian burgers, has received investments from billionaire Mr Gates and celebrities like Leonardo DiCaprio. The company raised $55m in a funding round last year. Other backers include Twitter co-founders Evan Williams and Biz Stone. In its filing, Beyond Meat said its products “closely replicate the sensory experience of meat” and the listing would let it expand beyond the US…
The start-up has targeted the boom in environmentally conscious eating, as vegan and vegetarian diets in the US continue to rise. Its products are sold in the meat aisles of supermarkets on the basis that it should target meat eaters as well as vegetarians… It joins other start-ups, such as Impossible Foods which is known for its bleeding meat burger and is backed by Google, in targeting changing dietary habits among consumers. Beyond Meat said it had an innovation team of 40, mixing scientists and chefs, to develop new plant-based meat products’. SOURCE…
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