Eat Just, which does business as Just and also makes products like eggless mayonnaise, is working toward achieving operating profitability, Mr Noyes said.Eat Just, last valued at US$1.2 billion, has raised more than US$300 million in funding from investors including Khosla Ventures.
As at August, the company had sold the equivalent of more than 50 million eggs, its website shows, up from roughly 40 million cited in a Bloomberg Businessweek feature published in June.The company, once known as Hampton Creek, was the subject of regulatory inquiries into its practice of buying back products from stores, though no wrongdoing was found.
Eat Just said this week that it plans to build and operate its first plant protein facility in Singapore, with investment from a group led by Proterra Investment Partners Asia Pte. Plant-based food companies are benefiting from changing consumer habits as institutional investors seek to make bets on companies that satisfy environmental, social and governance targets.
Beyond Meat Inc shares have more than doubled this year; and Tattooed Chef Inc, a maker of plant-based foods that went public through a special purpose acquisition company merger, has gained about 88 per cent. BLOOMBERGFor daily updates on weekdays and specially selected content for the weekend. Subscribe to
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