US: Post Holdings leads $25m Series A round for Hungry Planet

  • 21 April 2021
Hungry Planet produces chef-crafted plant-based meats including beef, chicken and pork
Hungry Planet chef culinary officer Ron DeSantis. Photo as seen on the company website

Hungry Planet, a plant-based meat company headquartered in St. Louis, Missouri, has closed an oversubscribed Series A funding round totalling $25 million. US CPG giant Post Holdings led the round joined by Singaporean investment group TRIREC and included other leading plant-forward investors.

This round of funding will be used to build capacity for Hungry Planet’s breakthrough plant-based meats, and accelerate growth across retail, foodservice and e-commerce channels, both domestically and internationally.

Siblings Todd and Jody Boyman founded Hungry Planet in 2016. This capital raise brings the total funding to date to $30.6 million, including $5.6 million the company raised in debt financing last May.

With the market value of plant-based meat expected to reach $35.4 billion by 2027, Hungry Planet determined that now is the time to scale.

Todd Boyman, co-founder and chief executive of Hungry Planet, said: “We’ve been joined by some amazing partners in our mission to create and deliver the most complete range of chef-crafted plant-based meats on the planet. This Series A investment will allow us to expand further and faster.”

Boyman said Hungry Planet has been quietly piloting its full range of chef-crafted plant-based meats in selected foodservice and retail markets at home and abroad. “With over four million servings sold globally, we’ve validated that our full range works perfectly in any cuisine, any recipe, any venue, and any geography,” he said.

Hungry Planet’s full range of non-GMO plant-based meats comprises chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage, and Italian sausage, all in a variety of forms.

“By delivering on taste, health and variety, we have seen tremendous success in foodservice and are now developing a deeply loyal and enthusiastic following in retail,” said Boyman. “Our broader retail launch is currently rolling out across the US and Singapore, and we are excited for the additional growth opportunities this funding provides,” he concluded.