3 Mins Read
The LIVEKINDLY Collective, a plant-based food company formerly known as Foods United that rebranded after the acquisition of the vegan media publisher of the same name earlier this year, has announced that it has secured US$135 million in additional funds. The capital will be used to help the company’s portfolio brands accelerate launches into new markets, the U.S. being the main target.
Announced last week, The LIVEKINDLY Collective’s latest US$135 million capital raise was led by Blue Horizon Corporation, a Zurich-based VC founded by Roger Lienhard. Lienhard is also the founder of The LIVEKINDLY Collective, which changed its name from Foods United earlier this year in March when it acquired LIVEKINDLY, the online media site that publishes plant-based, vegan celebrity and recipe content.
Other investors that joined the capital raise include an Asia-based syndicate led by Shanghai’s Trustbridge Partners, Swedish private equity firm EQT, and Griffith Foods, a food product development company based in Illinois, U.S. It follows the company’s initial founders round of US$200 million, taking its total funds raised to US$335 million.
Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need.David Knopf, CFO, LIVEKINDLY Collective
Proceeds from the round will primarily be used to increase the capacity and speed up launches of its portfolio brands planned for next year, including The Fry Family Food Co., LikeMeat, and Oumph!, whose products have yet to enter the U.S. market. The financing will additionally go towards its brand’s development of new products, which include plant-based chicken substitutes and plant-based eggs.
“Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need,” said David Knopf, CFO of LIVEKINDLY Collective.
“Our plans to accelerate business growth not only meets the demand of consumers for healthier and more environmentally friendly products, but also creates an attractive investment opportunity behind a purpose-driven business model.”
LIVEKINDLY Collective operates as a company owning and controlling the entire value chain of both heritage and startup plant-based food brands through its partnerships with growers, producers and distributors. Comprising founders, entrepreneurs and experts across the supply chain, the company believes that it is “uniquely positioned to create impact with speed, at scale.”
“We see significant investor interest increasing around our movement,” said Kees Kruythoff, CEO and chairman of LIVEKINDLY Collective, in a press release. “Through our plant-based food platform we’re committed to ethically and environmentally-friendly practices in everything we do…to scale rapidly and transform the current global food system.”
Lead image courtesy of Oumph!.