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Plant-based chicken maker Daring raises $40M in latest funding round


Dive Brief:
Plant-based chicken startup Daring has raised $40 million in a Series B funding round led by D1 Capital Partners, according to a press release. The musician Drake also joined the round while existing investors Maveron and Palm Tree Crew doubled down on their investments.
The funding will be used to triple its employee ranks by the end of this year. The startup currently sells its plant-based chicken in more than 1,000 retail locations including Costco and Kroger. The funding also will be used to expand its retail footprint and invest in future innovation and product development.
Plant-based protein startups shave been a popular target for venture capitalists in recent years as investors looking for a place to put their money are attracted to the fast-paced growth in the category. Companies focusing on proteins other than beef have become attractive opportunities as consumers show an appetite for more than just plant-based burgers. ....

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Nestlé's Sweet Earth moves into snacking aisle with plant-based jerky


Dive Brief:
Nestlé s Sweet Earth brand is introducing its first shelf-stable snacking product with two varieties of plant-based jerky, the company said in a statement.
Sweet Earth s Spicy Kung Pao Jerky will be available on shelves and online starting this month. The Sweet Korean BBQ variety will be out later in 2021. The wheat gluten-based offerings each have 13 grams of protein and no artificial flavors or coloring.
Jerky has been a popular category that manufacturers of faux meat have been expanding into in recent years as consumers increase their consumption of plant-based foods. The demand also comes as people snack more and eat while on the go. ....

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