[ad_1]
Rebellious, a A startup striving to build a “better chicken” has raised at least $20 million in new funding, TechCrunch has learned.
The Seattle-based, venture-backed company calls its production technology “the most advanced plant-based meat production system on the planet.”
Rebel It aims to raise up to $30.7 million in total, according to a public regulatory filing with the Securities and Exchange Commission. The report previously named backers YB Choi of Cercano Management, angel investor Owen Ant and Mike Miller of Liquid 2 Ventures among the directors. The filing suggests at least 55 undisclosed investors were involved in the last round, but as usual, SEC disclosures leave us wanting more.
They reached out to comment on the fundraiser. Rebel Chief of Staff Tina Meredith declined to share details about the cash-start plan. Still, the company’s website touts efforts to build a “next-gen meat machine” called Mock Two. Rebel calls the technology an alternative to factory farming, which he boldly and rationally describes as “disgusting.”
The filing comes as some of the biggest names in faux meats struggle to realize their vision of massaging big meat (which is more popular than ever in the US, according to somewhat delayed reports).
Impossible Foods may soon lay off 20% of its workforce, according to a January 30 Bloomberg report. Similarly, Beyond Meat announced it would lay off 19% of its workforce in October amid weak sales. For early-stage startups like Rebelius, all eyes will be on profitability, differentiation and, as always, price.
[ad_2]
Source link