Plantible Foods, a company founded in 2018 by Tony Martens Fekini and Maurits van de Ven, has secured $30 million in a Series B funding round. This round, co-led by Piva Capital and Siddhi Capital, saw contributions from new investors Betagro Ventures, Cultivate Next—the venture arm of Chipotle Mexican Grill—Nourish Ventures, the venture arm of Griffith Foods, and existing investor Astanor Ventures. The funding is set to advance Plantible’s mission to transform the global food supply chain by utilizing plant-based technology to promote health and sustainability.
The company has developed a proprietary and vertically integrated agricultural manufacturing platform to produce Rubi Protein, a highly functional and nutritional protein derived from Lemna, commonly known as duckweed. Plantible’s approach is rooted in addressing an agricultural industry that has remained largely unchanged since the late 18th century. While mechanization has improved efficiency, the ingredients and underlying supply chains have remained static, contributing to a decline in food health and exposing the system to vulnerabilities such as climate change, geopolitical disruptions, and rising health concerns.
"The food and agriculture industry is in need of innovative solutions, and Plantible's product enhances existing ingredients and supply chains rather than simply replacing them, said Issam Dairanieh, Venture Partner at Piva Capital. "The ability to deliver all of that and keep a 'clean label' is highly attractive to clients and important to customers. We are excited to continue to support Tony, Maurits, and the team in this next phase of growth as they scale their manufacturing and bring their clean and sustainable protein to a wider market."
Since its inception, Plantible has experienced strong demand for its Rubi Protein, driven by growing concerns over global supply chain issues and the need for a healthier, allergen-friendly food system. Rubi Protein’s superior properties allow food companies to innovate, offering products with better taste, texture, and nutritional value while reducing their environmental footprint. The protein’s versatility and clean-label status have positioned Plantible as a valuable partner for companies seeking sustainable ingredients that outperform traditional options.
The newly acquired funding will enable Plantible to scale its operations significantly. Central to this expansion is “The Ranchito,” the company’s first commercial plant—a 100-acre facility in West Texas. With this increased manufacturing capacity, Plantible plans to fulfill multi-million dollar offtake agreements with major food companies and aims to increase its revenue tenfold over the next year. This growth underscores the company’s ability to meet industry demands and deliver on its promise of sustainable food innovation.
CEO Tony Martens Fekini expressed his enthusiasm for the partnerships forged through the funding round. He highlighted the alignment between Plantible’s vision and its investors, emphasizing that the company is not merely competing with other protein sources but setting a new industry standard. The focus is on offering products with superior functional and nutritional qualities that align with the company’s commitment to environmental and human health.
"We are thrilled to partner with like-minded investors who align with our mission of transforming the global food supply chain and creating a healthier planet for all," said Tony Martens Fekini, CEO of Plantible. "This funding will enable us to significantly expand our manufacturing capabilities and meet the rapidly growing demand for our Rubi Protein. At Plantible, we are not simply competing with other proteins; we are setting a new standard for the industry by providing a product that offers superior functional and nutritional properties."
Steven Finn of Siddhi Capital described Plantible’s work as addressing some of the most urgent problems in the food industry. He praised the company’s focus on functionality, scalable manufacturing, and clean-label solutions, noting that its technology is already serving customers at scale while enhancing supply chain resilience. Similarly, Issam Dairanieh, Venture Partner at Piva Capital, underscored Plantible’s ability to enhance existing ingredients and supply chains rather than simply replacing them, a feature that appeals to both clients and consumers.
Plantible’s commitment to sustainability is evident in its reliance on Lemna, which is far more efficient than traditional crops like soy, producing ten times more protein per acre while requiring significantly less water. This approach not only addresses environmental challenges but also provides a scalable solution to meet the rising global demand for protein.
The Series B funding builds on earlier investments, including a $21.5 million Series A round in 2021, led by Astanor Ventures. These investments have propelled Plantible’s growth and innovation, allowing the company to bring its vision of a cleaner, healthier, and more sustainable food system to life. With its expanded capabilities and growing market presence, Plantible Foods is poised to redefine the future of food production, fostering a system that prioritizes health, sustainability, and resilience.
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