Australian v2food has announced the closing of a $ 54 million Series B Plus round of funding, which in addition to its $ 57 million round of funding in October 2020 brings the total funds raised of the company to $ 138 million. The company reports that in just two and a half years, its value has grown from $ 2 million to over $ 500 million.
Launched in October 2019 by Main Sequence Ventures of CSIRO and food industry leader Jack Cowin, and led by former Masterfoods and PepsiCo research director Nick Hazell; The latest round of v2food makes it Australia’s most funded alternative protein company.
Ten months after its latest increase, v2food continues to expand its market presence, recently announcing its first restaurant partnership with critically acclaimed Australian chef and restaurateur Neil Perry, launching two new products – v2sausages and v2sauce – as well. than by welcoming FMCG leader Tim York as COO.
v2food recently announced its launch in the Chinese market, with its first batch of products featuring a new iteration of the company’s v2min, pork-like. Having already successfully developed international markets in New Zealand, Thailand, Philippines, Japan and Korea, the company plans to use the new funds to develop its advanced manufacturing and expand its global reach to Asia and Europe. .
“We are delighted to be joining Astanor and are grateful for the continued support of our returning investors,” said Hazell. “The company is accelerating the advancement of its products and expanding its business footprint. In addition to our existing head office in Sydney, we officially opened operations in China and appointed our new Managing Director for China, Cyrus Pan, to grow the brand locally across Asia. This cycle allows us to continue our efforts to improve and iterate our products and to continue growing the company in terms of scale, global competitiveness and business development.