Beyond Meat Inc. has recently raised $55 million in funding as the company hopes to expand it's current production capabilities. Most of the funding came from the venture capital firm lead by ex McDonald's CEO Don Thompson, Cleveland Avenue LLC, as well as an increase in funding from Tyson foods who has previously acquired a 5% stake in the company in late 2016. This funding comes in addition to the previous $90 million the company raised through various other capital ventures investors. Beyond Meat designs its product to be 100% plant based but aims to achieve a similar to taste to that of tradition burgers. Currently the company has its product in over 5,000 U.S. stores including well known retailers such as Whole Foods, Kroger, and Albertsons. Beyond Meat is competing to raise funding with other companies producing plant based burgers such as Memphis Meats and Impossible Foods.
Beyond Meat Inc. hopes that by acquiring this addition funding they will be able to better compete with not only other plant based producers but traditional meat producers as well. Beyond Meat Inc. seeks to differentiate itself from similar products as well as traditional products. The target market of Beyond Meat and the other producers is one that is following the trends of consumer health and environmental consciousness. Finally, Beyond Meat Inc's product, a plant based burger, is a product that is currently experiencing market growth. As consumers values shift to be more health conscious, products such a plant based burger are growing in popularity.
By:Aaron Mandell
https://www.wsj.com/articles/plant-based-burger-maker-beyond-meat-cooks-up-more-funding-1512698730
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