In California, Beyond Meat raised $55 million in a new round led by Cleveland Avenue, LLC, the venture capital firm founded by Don Thompson, former CEO of McDonald’s Corporation. “We see Beyond Meat as a strategic and compelling consumer-focused investment. Customer response to Beyond Meat’s great-tasting products has driven its growth, and we’re excited about our investment as the brand continues to innovate for the future,” said Thompson.
Tyson Foods increased their stake in Beyond Meat with this round. “Global demand for all protein remains high and we’re passionate about meeting that demand sustainably,” said Justin Whitmore, executive vice president corporate strategy and chief sustainability officer of Tyson Foods.
The Beyond Burger is sold in more than 5,000 stores and these funds will more than triple the size of Beyond Meat’s production footprint, further fund the company’s R&D commitment to perfectly build meat from plants, and expand sales and distribution.