Funding round
Nature's Fynd Series B
Nature's Fynd, which works in fungi-based protein manufacturing in Chicago, raised $80M in a Series B round announced on 24 Mar 2020, led by Generation Investment Management and Breakthrough Energy. 6 firms took part. It is Nature's Fynd's second venture round on record; the one before was a Series A in Jan 2018.
$80M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Nature's Fynd did not disclose a valuation in this round. It came 26 months after Nature's Fynd's Series A. It is 17% of the $463M Nature's Fynd has raised in the venture rounds on record. Nature's Fynd raised again 16 months later: a Series C round of $350M in Jul 2021, at $1.00B post-money.
Nature's Fynd's funding rounds
Nature's Fynd has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Generation Investment Management and Breakthrough Energy led the round with 4 other firms.
Lead investors
- Generation Investment Management new investor
- Breakthrough Energy backs 113 venture-backed companies new investor
Also in the round
- backs 3 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- ADM Ventures new investor
- Danone Manifesto Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series B rounds in Food Production within a year either side disclosed an amount; the median was $22M, and this round was 3.6 times the median. The closest in time, other companies' Series B rounds in Food Production:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Food Production | 19 Feb 2020 | undisclosed | not disclosed | not named |
| Food Production | 15 Jan 2020 | $32M | $4.50B | Stray Dog Capital and Rocana Ventures |
| Food Production | 2 Jun 2020 | $20M | not disclosed | Finistere Ventures |
| Food Production | 29 Sep 2020 | undisclosed | not disclosed | Alliance Consumer Growth |
| Food Production | 19 Jun 2019 | $22M | not disclosed | BlueRed Partners |
| Food Production | 26 Jan 2021 | $60M | not disclosed | Goldman Sachs and Kaiser Permanente Ventures |
| Food Production | 25 Apr 2019 | $40M | not disclosed | Ingredion |
| Butternut Box Food Production | 26 Apr 2019 | $19M | not disclosed | White Star Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Nature's Fynd raise in its Series B round?
Nature's Fynd raised $80M in its Series B round, announced in Mar 2020.
Who led Nature's Fynd's Series B round?
Generation Investment Management and Breakthrough Energy led it, with 1955 Capital, Mousse Partners, ADM Ventures and Danone Manifesto Ventures.
What was Nature's Fynd's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Food Production?
7 Series B rounds in Food Production within a year either side disclosed an amount; the median was $22M, and this round was 3.6 times the median.
Did Nature's Fynd raise again after this round?
Yes: a Series C round in Jul 2021 of $350M at $1.00B post-money.