ST. LOUIS — Plant-based meat company Hungry Planet Inc. raised $25 million in a Series A funding round led by Post Holdings, with participation from Singapore-based investment group TRIREC.
The company will work with Post’s foodservice and retail units to expand its distribution and meet growing demand for plant-based alternatives across a variety of meal occasions.
Launched in 2016 by Todd Boyman and his sister, Jody Boyman, Hungry Planet offers a range of plant-based meat alternatives, including chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage and Italian sausage. Its products are available through foodservice, retail and e-commerce channels in both the United States and Singapore.
“Over the past several years, we’ve been quietly piloting our full range of chef-crafted, nutritious plant-based meats in select foodservice and retail markets domestically and internationally,” Boyman said. “With over 4 million servings sold globally, we’ve validated that our full range works perfectly in any cuisine, any recipe, any venue and any geography.”
The investment in Hungry Planet marks Post’s second partnership in the sustainable food product category. The company last year announced an agreement to manufacture and distribute Eat Just Inc.’s plant-based Just Egg products through its subsidiary Michael Foods.
“Demand for plant-based meats is growing,” said Mark Westphal, president of Michael Foods. “We are excited to announce this partnership with Hungry Planet and to continue to offer more innovative product options to our customers.”