A plant-based protein startup raises $2 million

VANCOUVER, BC – TMRW Foods, a Canadian producer of plant-based proteins, has raised C$2 million ($1.54 million) in funding to support increased distribution in North America.

Founded in 2018, TMRW Foods offers a line of plant-based proteins made from a blend of kidney beans, yellow split peas and quinoa. Its line includes TMRW Burgers, TMRW Breakfast Patties, TMRW Ground and four flavors of TMRW Sausage. The company recently added a line of TMRW Shreds made with a proprietary protein, marking its first foray into the gluten-free market. Products are sold at retailers across Canada and through a local delivery hub in Vancouver’s Lower Mainland.

In August, TMRW Foods will launch eight products at Sprouts Farmers Market stores across the United States, expanding its retail footprint to more than 1,500 locations in North America. Since late last year, the company has vertically integrated its protein production, doubled the size of its plant and quadrupled its distribution, said Dean Blignaut, co-founder and CEO of TMRW.

“We feel extremely fortunate to be able to surround ourselves with values-aligned, impact-driven investors who fuel our ability to execute on our mission,” Mr. Blignaut said. “TMRW believes that the key to plant-based success is to relentlessly pursue the creation of plant-based proteins that are tastier, more nutritious and more accessible than exist today. Everything we do is with this goal in mind. Only by meeting the basic needs and expectations of the masses will we create a solution that will lead to a more sustainable food system.

Investors in the recent round include TELUS Pollinator Fund for Good, former Kellogg’s Canada executive Philip Donne and existing stakeholders.

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