Better Meat Co raises $31m Series A: ‘Some days, building a startup in our sector can feel like being a player in Squid Game’

The Better Meat Co. (BMC), a Sacramento-based startup, has secured a $31 million Series A funding round, co-led by Future Ventures and Resilience Reserve, to expand its production of Rhiza mycoprotein. This capital will allow the company to increase its production capacity tenfold, with the goal of selling its mycoprotein at prices lower than commodity ground beef by 2026. Despite a challenging investment climate for the alternative protein sector, BMC has maintained a frugal and resilient strategy, avoiding layoffs and navigating various setbacks including litigation and the collapse of Silicon Valley Bank. The company’s Rhiza mycoprotein, a non-GMO fermented ingredient, is seen as a more efficient and cost-effective alternative to plant-based proteins, offering a meat-like texture and superior nutritional benefits, such as reduced saturated fat and added fiber, when used as a meat enhancer. With regulatory approvals in place, BMC is positioned to meet the growing demand for sustainable and affordable protein innovation.

Source: Better Meat Co raises $31m Series A: ‘Some days, building a startup in our sector can feel like being a player in Squid Game