March 26, 2021

Eat Just, plant-based egg producer, raises US$200 million in new funding

Plant-based egg producer Eat Just has raised US$200 million in its new funding round, which will be used to increase capacity and expand to new markets, Reuters reported.

The new funding round was led by Qatar's sovereign wealth fund. Other investors include Charlesbank Capital Partners and Vulcan Capital, owned by Microsoft Corp co-founder Paul Allen. Eat Just said Representatives from Qatar Investment Authority and Charlesbank will join the company's board.

The company is known for producing "JUST Egg", mung bean-based egg substitute currently sold in the United States.

Eat Just received approval from the Singapore government in 2020 to sell its lab-grown chicken meat, the first government regulatory approval for meat that is not derived from animals.

Since the company was established in 2011, it has raised over US$650 million in funding and has been last valued at US$1.2 billion. It counts Hong Kong tycoon Li Ka-shing and Singapore state investor Temasek among its investors.

- Reuters