NOTCO™
“HECHA CON INGREDIENTES VEGETALES Y PUNTO” (MADE FROM PLANTS AND NOTHING ELSE).
CAUSES
DELIVER GOOD HEALTH
PROSPER SUSTAINABLY
DEAL DATE
1ST MARCH 2019 (SERIES B)
8TH SEPTEMBER 2020 (SERIES C)
INVESTMENT UPDATE
26TH JULY 2021 (SERIES D)
NotCo announce their Series D which values the business at $1.5Billion. Full story via Tech Crunch.
CHECK SIZE
TOTAL INVESTED TO DATE: 31.5M USD
INITIATIVES AND IMPACT
MAJOR CO2 & H2O SAVINGS
+ 94% less C02 emission than animal-based products
+ 85% less water consumption for every kg of NotCo products
+ Nutritional parity with animal-based products
ABOUT
This isn’t science fiction, this is science fact: NotCo’s machine AI (affectionately named Giuseppe) analyses animal-based produce at the molecular level and generates plant-based equivalents that not only look and taste as good, but critically, perform equally in the kitchen.
The upside? Massive sustainability gains, an easy transition for progressive consumers, and significantly healthier alternatives for the foods we love - from milk and ice cream to mayo and meat, NotCo’s products are just better than the competition.
COMPANY DETAIL
Based in Chile, NotCo, is the brainchild of biotech guru Matías Muchnick and computer scientist Karim Pichara. Launched in 2015, NotCo’s secret weapon is Giuseppe, a machine AI platform named after the famous Renaissance artist Giuseppe Arcimboldo, which analyses molecular structures to create unique food combinations derived only from plant-based ingredients. Same great flavour and texture, delighting consumer taste buds, but with exceptionally different, sustainable ingredients.
But it’s not all about technology. NotCo’s team of chefs and specialists verify and authenticate each combination to make sure that every product is wholesome and delicious. For example, NotCo’s first product, Not Mayo®, made from garbanzo beans, is currently flying off the shelves in 1000 stores across Chile (retailers including WalMart, Cencosud, Tottus, and Unimarc stores).
"NOTCO’S SECRET WEAPON ANALYSES MOLECULAR STRUCTURES TO CREATE UNIQUE FOOD COMBINATIONS DERIVED ONLY FROM PLANT-BASED INGREDIENTS."
THE DEAL
THE DEAL (SERIES B)
The Craftory lead the 30M USD round providing over 60% of the capital raised. Jeff Bezos’ family office Bezos Expeditions, alongside existing investors Kaszek Ventures and IndieBio also participated in the round.
The investment will be used to fund new product development, like milk and ice cream, and support NotCo as the company expands across South America.
THE DEAL (SERIES C)
The Craftory is participating in NotCo’s latest 85M USD Series C round, significantly upping the existing Series B investment of 18M USD. Sharing the round alongside The Craftory is current investor Kasek Ventures. Highly regarded funds Future Positive and L Catterton also join this round.
The investment will be used to fund NotCo’s imminent US launch, as well as the ongoing development of category redefining plant-based food. NotCo is evaluating food service and retail partners as a part of this scaleup and global expansion, building from successful NotBurger and NotMeat partnerships with Burger King and Papa John’s in Chile.
THE JV
NotCo X KRAFT HEINZ team up
Monday, 28th Feb 2022 - NotCo announces a joint venture agreement with global F&B giant Kraft Heinz. It’s an exciting milestone for the plant-based industry .
In less than five years, NotCo has become one of the fastest-growing food tech companies in the world. They are on a mission to replace animal-based foods entirely, in turn reversing the harm that their production has caused to the planet.
Back in 2019 The Craftory team saw the potential of this disruptive, challenger brand, investing in the company at an early stage with a view to not only scale up the business but as part of a wider goal to help transform the food sector for the better. The Craftory were amongst the first to invest in the food tech pioneers and have been working with them ever since to develop the business, stage a successful US launch, and ultimately transform the food sector for the better by making sustainable.
ENVIRONMENTAL FACTS
It’s no secret that livestock reared for human consumption create a lot of greenhouse gas: According to the FAO cows, pigs, sheep, chickens etc. account for 14.5% of global greenhouse gas emissions.
We’re also facing a problem with unsustainable agricultural practices: The Worldwatch Institute found that around 70% of agricultural land is used for animal pasture causing deforestation, biodiversity loss, and water pollution.
As a society we’re growing fast, with the UN estimating that by 2030 there will be 8.5 billion people. We’re also eating more than ever and the impact on our planet is devastating. According to the FAO, 7.1 gigatonnes of CO2 is produced each year from global livestock.
Environmentally-aware, health conscious consumers are reducing meat consumption and increasingly demanding sustainable alternatives that don’t harm the planet or their bodies, according to research from the Natural Resources Defense Council.
NotCo has been listening.
MORE NOTCO
notco.com