AMERICAN food start-up Black Sheep Foods has raised $12.3 million to fund the national distribution of its first plant-based ‘lamb’ product.
The San Francisco-based company raised the money in a Series A funding led by plant-based venture veterans Unovis – an early investor in Oatly and Beyond Meat – with Bessemer Ventures Partners, AgFunder and KBW Ventures bringing total investment to $18.05m since the company’s founding in 2019.
Black Sheep Foods chief executive officer and co-founder Sunny Kumar said the company’s debut ‘lamb’ made from plants has more depth of flavour, richness, and appetizing aromatics than other meats, “full stop”.
“We’re in the business of giving consumers access to the most delicious meat variety, using plants instead of animals,” he said.
Black Sheep Foods said Prince Khaled bin Alwaleed, the MENA region’s preeminent greentech investor, founder of UAE-based KBW Ventures, and early investor in alt-proteins, participated in this funding round after tasting BSF ‘lamb’.
“Black Sheep Foods’ lamb is shockingly good; as someone who has grown up with this taste profile, I couldn’t believe the authentic mouthfeel and flavour,” Prince Khaled said.
“With taste being a vital aspect of customer adoption, Black Sheep Foods will easily dominate amongst plant-based meats.
“Additionally, game meats are still a wide open playing field,” the prince said.
“There’s a whole range of taste profiles that Black Sheep will be able to explore, especially with the company’s technology, allowing for an amplified flavor, excellent texture, and a strong nutritional profile.”
Earlier in June, KBW Ventures also invested in a $40 million Series B round in Eclipse, a California-headquartered food startup that manufactures plant-based ice cream and dairy products.