Eat Just Announces $25 Million Investment from C2 Capital | Company
ALAMEDA, Calif.–(BUSINESS WIRE)–August 16, 2022–
Eat Just, Inc., a company that applies cutting-edge science and technology to create healthier, more sustainable foods, today announced a $25 million investment and strategic partnership with the private equity C2 Capital Partners (C2). C2 was established in 2018 to provide growth capital and operational support to businesses looking to scale in China. The main investor in the company is the Alibaba Group.
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JUST Egg and GOOD Meat (Photo: Eat Just, Inc.)
This is C2’s first investment and partnership in the alternative protein space and the relationship currently supports go-to-market strategies, sales, branding, consumer insights, hiring and recruitment. regulatory approach of Eat Just in China.
Eat Just’s famous plant-based egg brand, JUST Egg, was launched in China on e-commerce platforms such as Alibaba-owned Tmall.com in 2019 and since then has grown its brand and its activities, mainly in Shanghai. GOOD Meat, which is real, high-quality meat made from cells, has gained regulatory approval and is being sold in Singapore, but the company has had preliminary conversations with Chinese officials and is preparing to enter the market. American.
Today’s announcement follows the inclusion of Eat Just’s two main product categories – plant-based eggs and cultured meat – in China’s National Food Safety Plan, which is part of the vast five-year plan of the country, for the first time. China is the largest egg-producing country in the world, accounting for more than 30% of the global market, and the largest consumer of meat on Earth, accounting for around 30% of this industry.
“We are grateful to partner with C2 to grow our business in China. Their unique market knowledge and expertise includes logistics, branding, marketing, omnichannel sales and distribution, and last mile delivery,” said Josh Tetrick, co-founder and CEO of Eat Just. .
“We are excited to support alternative protein pioneer Eat Just’s mission and accelerate the growth of its innovative products and technologies in China by leveraging the unique knowledge and resources of the C2/Alibaba ecosystem,” said Steve. Lin, managing partner of C2.
Beyond China’s JUST Egg online sales, nearly 30 popular street vendors across Shanghai sell plant-based versions of jianbing, which resembles a pancake and is one of the most popular breakfast foods. most popular and practical in the country. Vendors, who sometimes sell thousands of JUST Egg jianbing per week, are listed in a specially designed WeChat mini program that allows users to gift JUST Egg jianbing coupons to their friends.
Additionally, a custom-built JUST Egg caravan has made frequent appearances at weekend markets around Shanghai, and in 2020 the company opened China’s first plant-based culinary studio where chefs from some of the best restaurants in town taught people how to cook delicious herbs. based dishes without sacrificing flavor, nutrition and quality.
About Eat Just, Inc.
Eat Just is a food technology company with a mission to build a healthier, safer and more sustainable food system in our lifetime. The company’s expertise, from the functionalization of plant proteins to the cultivation of animal cells, is powered by a team of world-class scientists and leaders spanning more than a dozen research disciplines. Eat Just has created one of America’s fastest growing egg brands, which is made entirely from plants, and the world’s first meat on the market made from animal cells instead of slaughtered cattle. The company has been recognized as one of the “Most Innovative Companies” by Fast Company, the “100 Brilliant Companies” by Entrepreneur, the “Disruptor 50” by CNBC, and a Technology Pioneer by the World Economic Forum. JUST Egg was named one of Popular Science’s “100 Greatest Innovations” and Fast Company’s “World-Changing Ideas” and GOOD Meat’s historic debut was heralded as one of the top science breakthroughs of 2020 by The Guardian , Vox and WIRED.
For more information on JUST Egg, visit https://ju.st/newsroom.
For more news about GOOD Meat, visit http://goodmeat.co/newsroom.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220816005928/en/
CONTACT: Andrew Noye
KEYWORD: CALIFORNIA CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC
INDUSTRY KEYWORD: RETAIL ENVIRONMENT SUSTAINABILITY ENVIRONMENTAL HEALTH FOOD/BEVERAGE SPECIALTIES
SOURCE: Just Eat, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 8/16/2022 8:50 PM / DISK: 8/16/2022 8:51 PM
Copyright BusinessWire 2022.