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Prime Roots Secures an Additional $30M for Koji Mycelium Deli Meats

Prime Roots, a trailblazer in koji-derived deli-style meats, has secured an additional $30 million in Series B funding from True Ventures, Pangaea Ventures, Prosus Ventures, Top Tier Capital, Diamond Edge Ventures, SOSV/IndieBio, Solasta Ventures, Monde Nissin, Alumni Ventures, Gaingels, Meach Cove Capital, The House Fund and Hyphen Capital. This brings their total funding to around $50 million. With this new backing, they are well-positioned to extend their reach into deli counters and restaurants across the United States.

"People are asking for sustainable meat options that taste good, make them feel good and do good with less planet impact. Prime Roots delivers on all three: taste, nutrition, and sustainability," says Kimberlie Le, Founder and CEO of Prime Roots. "This new funding is a testament to the market opportunity for the next generation of plant-based meats that meet consumer expectations while forging into old world categories like deli with disruptive innovation."

Prime Roots is changing the game in the deli case through its proprietary fermentation and food science technology. With the help of acclaimed chefs, they've developed top-selling products like cracked pepper turkey, black forest ham, hickory bacon, salami, and pepperoni - all crafted to emulate a meaty taste and texture that consumers love. Plus - their nutrition label reads better than most others with no nitrates, preservatives, cholesterol, soy, or wheat - and lower sodium than the leading brand.

Compared to the years of preparation for some conventional meats, Prime Roots' deli meats takes three to five days, in line with its mission to satisfy meat cravings with better-tasting food sustainably. According to a third-party impact lifecycle assessment, Prime Roots' methods are 89-92% more sustainable than conventional meats by limiting emissions and land use.

Prime Roots' deli meat consistently sells out before lunch; sales are 5-10x higher than other plant-based alternatives. With over 300 million sandwiches eaten daily in the United States, deli meat is a huge market. Prime Roots products cover over 75% of the market with plant-powered turkey, ham, salami, pepperoni, and bacon.


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