Rebelliousa startup aiming to build “a better chicken” has raised at least $20 million in new funding, australiabusinessblog.com has learned.
The Seattle-based company calls its production technology the “most advanced plant-based meat production system in the world.”
Rebellious aims to raise a whopping $30.7 million according to an audience regulatory submission with the Securities and Exchange Commission. The report names previously announced lenders Y. B. Choi from Cercano Management, angel investor Owen Gunden And Michael Miller of Liquid 2 Ventures among its directors. The filing indicates that at least 55 undisclosed investors participated in the final round, but as usual, the SEC disclosure leaves us wanting more.
Reached for comment on the fundraiser, Rebellious chief of staff Tina Meredith declined to give details about the startup’s plan for the money. Still from the company website explains efforts to build “the next generation meat machine” dubbed Mock Two. Rebellyous calls its technology an alternative to factory farming, which it frankly and justifiably describes as “damn disgusting.”
Impossible Foods could soon lay off 20% of its workforce, according to a Jan. 30 posting Bloomberg report. Similarly, Beyond Meat announced it would lay off 19% of its staff in mid-October Reportedly weak sale. For early stage startups like Rebellous, all eyes will be on profitability, differentiation and, as always, costs.