As ever, growing investments are ongoing into vegan businesses around the world. From mushroom meat to an undisclosed plant-based protein brand and Oatly’s sales report.
So, here’s the latest in the plant-based business news space.
Oatly reports record quarterly revenue of $146M
Swedish oat milk giant Oatly has released its financial figures for the second quarter of 2021 as well as staggering predictions for the future.
This includes a 53 percent increase in revenue, totaling $146 million. Moreover, Oatly has reported a gross profit of almost $40 million.
However, the brand is eyeing further success with revenue forecasts expected to exceed $690 million.
In a statement, CEO Toni Petersson said the year represents the company’s ‘most transformational’ yet, and that the boost in profits came as no surprise.
‘We’re continually expanding global production capacity to support our long-term growth. And, launching key partnerships and distribution agreements with prominent customers globally’, Petersson added.
Australia-based mushroom meat makers Fable Food raises $6.5M
A company making vegan meat alternatives out of mushrooms has announced seed investment funding of $6.5 million AUD.
As a result, Fable Food is hoping to launch in the US by the end of 2021.
It was led by Blackbird Ventures. Other backers include AgFunders, Better Bite Ventures, Ban Choon Marketing, and Warren Hogarth.
Offerings currently available include shiitake mushroom-based pulled pork, braised beef, and beef brisket.
Biotech giant funnels $316m into unnamed plant-based protein company
Novozymes A/S confirmed it is investing a staggering $316 million into the plant-based protein sector. It’s dubbed the world’s largest industrial biotechnology company.
However, the ‘key player’ is unidentified, Bloomberg reports.
Vegan investment firm backs Amsterdam-based dairy-free cheese brand
Capital V, a vegan investment firm specializing in private investments with a mission to ‘transform’ the planet – has added to its portfolio with vegan cheese brand Willicroft.
Based in Amsterdam, Willicroft offers fondue-inspired This Is Not Cheese Sauce, as well as a feta alternative and Italian Style Grated.
The funding is the first alternative dairy investment for the firm, founded by renowned tech entrepreneur Michiel van Deursen.
Sausage brand HECK forecasts popularity boost for plant-based range
HECK is eyeing ‘crazy valuations’ in the plant-based space. The company makes a host of sausage products available at major UK supermarkets.
Further investment is expected overseas, founder Andrew Keeble told The Grocer. While the company is not plant-based, Keeble is expecting HECK’s plant-based offerings to increase in worth.
And, he indicated the company is keen to expand into the alternative milk industry.
This article was updated on 5/09 to correct an error on one of the financial figures