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Billionaire and Amazon CEO, Jeff Bezos, has contributed towards a $30 million investment in the vegan mayonnaise organization, The Not Company (NotCo.)
The Chilean-based company creates plant-based alternatives to foods such as mayonnaise, milk, and ice cream, and has raised its funds from several investors, including investment house The Craftory.
NotCo’s vegan mayo, which is primarily made from chickpeas, is currently available in over 1,000 retailers in Chile, with company plans to expand distribution to the US by the first quarter of 2020.
Challenging ‘traditional food production giants’
Co-founder of The Craftory, Elio Leoni Sceti, said: “NotCo is the epitome of a mission-driven challenger brand and has the energy and capabilities to topple the traditional food production giants.
“Their advanced thinking combines food tech, machine AI, and plant-based ingredients to create a sustainable non-animal protein source.”
‘The Nestlé of millennials’
The startup’s co-founder, Matias Muchnick, believes his company is able to radically alter the food industry, by creating alternatives that taste as good as or better than meat and dairy options.
Muchnick said: “Our focus is to be the Nestlé of millennials.
“We really want to fill your fridge with NotCo products.”