Canada: Plant-based company TMRW Foods raises C$2m
Firm is launching eight products across the US with Sprouts Farmers Market next month
Port Coquitlam, British Columbia-headquartered plant-based food company TMRW Foods has raised C$2 million in a round with participants including the Telus Pollinator Fund for Good, Philip Donne (the former chief executive of Kellogg’s Canada) and further investment from existing stakeholders.
TMRW is launching eight products across the US with Sprouts Farmers Market next month, which will increase distribution in North America to more than 1,500 retail locations and 6,000 distribution points.
TMRW’s co-founder and chief executive Dean Blignaut said: “We feel tremendously fortunate to be able to surround ourselves with values-aligned, impact-driven investors that fuel our ability to execute on our mission.
“TMRW believes the key to plant-based success is to relentlessly pursue the creation of plant-proteins that are more flavourful, more nutritious and more accessible than those in existence today. Everything we do is with that goal in mind. It’s only through meeting the fundamental needs and expectations of the masses that we will create a solution that leads to a more sustainable food system,” Blignaut added.
“It’s surreal. Since the end of last year, we have vertically integrated our protein production, doubled the size of our facility and quadrupled our distribution. To launch with Sprouts is indescribably gratifying. It’s an electric feeling.”