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Tuesday, Mar 21, 2023

Beyond Meat Raises $17 Million Investment

Beyond Meat is beefing up its bank account.

The El Segundo fake meat manufacturer has raised a $17 million Series E round, according to a filing with the Securities and Exchange Commission.

Beyond Meat engineers and manufactures faux-chicken and beef products from plant proteins. Its backers include prominent tech investors such as Menlo Park’s Kleiner Perkins Caufield & Byers, Microsoft Corp. co-founder Bill Gates and San Francisco’s Obvious Ventures.

The company has put considerable efforts into engineering fake meat products that look and taste like the real thing. Beyond Meat’s team analyzes the makeup of proteins, fats and water in animals and tries to reproduce that distribution in its plant-based products.

The company’s top-selling Beast Burger, and other meat substitutes, are sold in over 7,000 stores, including Whole Foods, Target, Vons and Ralphs. It has also struck deals with sandwich chain Which Wich of Dallas and L.A. pizza chain Fresh Brothers.

A representative of Beyond Meat could not be reached for comment.

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