Plant protein startup raises $2 million

VANCOUVER, BC. — TMRW Foods, a Canadian producer of plant-based proteins, raised C$2 million ($1.54 million) in financing to support increased distribution across North America.

Founded in 2018, TMRW Foods offers a range of plant-based proteins featuring a blend of kidney beans, yellow split peas and quinoa. Its lineup includes TMRW Burgers, TMRW Breakfast Patties, TMRW Ground and four flavors of TMRW Sausage. The company most recently added a line of TMRW Shreds made with a proprietary protein, marking its first foray into the gluten-free market. The products are sold in retailers across Canada and through a local delivery platform in lower mainland Vancouver.

In August, TMRW Foods will launch eight products at Sprouts Farmers Market stores across the United States, increasing its retail footprint to more than 1,500 locations in North America. Since the end of last year, the company has vertically integrated its protein production, doubled the size of its facility and quadrupled its distribution, said Dean Blignaut, co-founder and chief executive officer of TMRW.

“We feel tremendously fortunate to be able to surround ourselves with values aligned, impact-driven investors that fuel our ability to execute on our mission,” Mr. Blignaut said. “TMRW believes the key to plant-based success is to relentlessly pursue the creation of plant-proteins that are more flavorful, more nutritious and more accessible than those in existence today. Everything we do is with that goal in mind. It’s only through meeting the fundamental needs and expectations of the masses that we will create a solution that leads to a more sustainable food system.”

Investors in the recent round include TELUS Pollinator Fund for Good, former Kellogg’s Canada leader Philip Donne and existing stakeholders. 

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