Plant-based chicken brand closes $8 million funding round

daring, a clean plant-based chicken manufacturer, has closed an $8 million funding round, with plans to use to money for retail and foodservice expansion and to launch a new breaded product.

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(Business Wire)
(Business Wire)

daring, a clean plant-based chicken manufacturer, has closed an $8 million funding round, with plans to use to money for retail and foodservice expansion and to launch a new breaded product.

“At daring we’ve been able to create the cleanest plant-based chicken on the market that gets as close as possible to the taste and texture of the real thing,” said daring’s CEO and Co-Founder, Ross Mackay.

“We are excited to have attracted a group of investors that have been involved in building monumental consumer businesses and we will leverage this investment to continue our growth in an ever-changing, competitive landscape. This gets us a huge step closer to mitigating the negative impact of the poultry industry on the planet and human health.”

Plant-based proteins went mainstream in 2019, however the majority of meat alternatives available on the market are designed to taste like beef or pork. This is because it is much more difficult to mimic the taste and texture of poultry.

The investors

Venture capitalist brand Maveron led the investments. Additional investors included GoodFriends (from the founders of Allbirds, Harry’s and Warby Parker), Stray Dog CapitalPalm Tree Crew Investments (Kygo and Myles Shear), and private investors including Mike Smith (CFO of Stitch Fix) and Brian Swette (former Chair of Burger King). 

“We are always looking to partner with entrepreneurs that are building the next generation in consumer products. daring’s co-founders have a massive mission and the product exceeded our expectations in every capacity – taste, texture, and clean ingredients,” says Dan Levitan, Managing Partner and Co-Founder of Maveron. 

“We are in the early innings of the plant-based movement. The next wave of plant-based alternatives need to be significantly less processed with a cleaner ingredient profile to win the hearts, minds and stomachs of consumers. We are confident that daring will emerge as a leader in the space.”

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