Plant-based Rebellyous is raising millions to ‘rethink the nugget’ • TechCrunch
Rebellyous, a startup that’s striving to build “a better chicken,” has raised at least $20 million in fresh funding, TechCrunch has learned.
Based in Seattle, the venture-backed company calls its production tech the “most advanced plant-based meat manufacturing system on the planet.”
Rebellyous aims to raise as much as $30.7 million in total, according to a public regulatory filing with the Securities and Exchange Commission. The report names previously announced backers YB Choi of Cercano Management, angel investor Owen Gunden and Mike Miller of Liquid 2 Ventures among its directors. The filing indicates that at least 55 undisclosed investors chipped in on the latest round, but as usual the SEC disclosure leaves us wanting more.
Reached for comment on the fundraise, Rebellyous chief of staff Tina Meredith declined to share details on the startup’s plan for the money. Still, the company’s website lays out efforts to build “the next-gen meat machine,” dubbed Mock Two. Rebellyous calls its tech an alternative to factory farming, which it bluntly and justifiably describes as “fucking disgusting.”
The filing comes as some of the most prominent names in faux meat struggle to realize their overarching vision of disrupting big meat (which is more popular than ever in the U.S., per somewhat dated reports).
Impossible Foods could soon lay off 20% of its staff, according to a January 30 Bloomberg report. Likewise, Beyond Meat announced it would lay off 19% of its staff in October amid reportedly weak sales. For early-stage startups such as Rebellyous, all eyes will be on profitability, differentiation and, as always, cost.