Less than a year after getting its plant-based burgers into the meat sections at mainstream grocery stores, Beyond Meat is ramping up production.
The Los Angeles-based food company announced this week that it’s raised an additional $55 million in funding, which will allow it to triple the amount of plant-based burger “meat” it makes. An undisclosed amount of that funding came from Tyson Foods, the largest US meat company, according to the Wall Street Journal.
Beyond Meat is now tackling the food industry from three different angles and finding success:
Restaurants: The burger patty is also now on the menu at a handful of TGI Fridays restaurants, and is expected to be sold at most of the chain’s locations by sometime in 2018.
Beyond Meat, backed by tech titan Bill Gates and Hollywood actor Leonardo DiCaprio, among other investors, is starting to make take some of the overall market share of meat products away …
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