Prime Roots Raises $30M In Series B Funding To Roll Out The First-Of-Its-Kind Plant-Based Deli Meats Nationwide
May 15, 2023•about 2 years ago
Amount Raised
$30 Million
Round Type
series b
Investors
Hyphen CapitalThe House FundMeach Cove CapitalGaingelsAlumni VenturesMonde NissinSolasta VenturesSosv/Indie BioDiamond Edge VenturesTop Tier CapitalProsus VenturesPangaea VenturesTrue Ventures
Description
Prime Roots, the leading innovator of deli-style meats made from koji mycelium, today announced $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 bringing their total funding to approximately $50 million. The fresh funding will enable Prime Roots to scale and expand to deli counters and restaurants nationwide.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech