Chilean vegan startup The Not Company (“NotCo”) recently raised $30 million in investment capital from several funds, including from funds controlled by Amazon-founder Jeff Bezos. Founded in 2015 by biotech engineer Matías Muchnick, biochemist Pablo Zamora, and computer scientist Karim Pichara, NotCo’s products rely on “Guiseppe”—a discovery platform that identifies plant-based proteins that can mimic animal products. “NotCo is the epitome of a mission-driven challenger brand and has the energy and capabilities to topple the traditional food production giants. Their advanced thinking combines food tech, machine AI, and plant-based ingredients to create a sustainable non-animal protein source,” Elio Leoni Sceti, co-founder of The Craftory, a $300 million mission-driven fund that led the investment in NotCo, said. “We are thrilled to be working with Matías and the NotCo team as they transform the food production industry and give people the choice to consume environmentally conscious products.” Currently, the company distributes its chickpea-based Not Mayo at more 1,000 retailers in Chile and plans to use the current funding round to develop new products (such as vegan ice cream, yogurt, and milk) and expand its distribution channels to Mexico and the United States by the end of the year.
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