Funding round
UPSIDE Foods Series A
UPSIDE Foods, which works in cultivated meat and beef production in Berkeley, raised $17M in a Series A round announced on 1 Aug 2017, led by dfj. 3 firms took part. It is UPSIDE Foods' second venture round on record; the one before was a Seed in Mar 2016.
$17M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
UPSIDE Foods did not disclose a valuation in this round. It came 17 months after UPSIDE Foods' Seed. It is 2.9% of the $578M UPSIDE Foods has raised in the venture rounds on record. UPSIDE Foods raised again 29 months later: a Series B round of $161M in Jan 2020, at $500M post-money.
UPSIDE Foods' funding rounds
UPSIDE Foods has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
dfj led the round with 2 other firms.
Lead investor
- backs 52 venture-backed companies new investor
Also in the round
- Atomico backs 123 venture-backed companies new investor
- Cargill new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Meat Production & Processing, then Series A rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Meat Production & Processing | 17 Jul 2018 | $8.8M | not disclosed | M Ventures and Bell Food Group |
| Neuralink Medical Supply Manufacturers | 1 Aug 2017 | $107M | not disclosed | not named |
| Medical Laboratories | 7 Aug 2017 | $50M | not disclosed | DCVC and Lightspeed Venture Partners |
| Medical Supply Manufacturers | 7 Aug 2017 | $20M | not disclosed | US Venture Partners |
| Tech Companies | 29 Aug 2017 | $18M | not disclosed | not named |
| Media Companies | 31 Aug 2017 | $15M | not disclosed | The Raine Group |
| Medical Laboratories | 2 Aug 2017 | $15M | not disclosed | Khosla Ventures |
| Hosting & Cloud Infrastructure Providers | 9 Aug 2017 | $12M | not disclosed | Andreessen Horowitz |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did UPSIDE Foods raise in its Series A round?
UPSIDE Foods raised $17M in its Series A round, announced in Aug 2017.
Who led UPSIDE Foods' Series A round?
dfj led it, with Atomico and Cargill.
What was UPSIDE Foods' valuation at the Series A round?
It was not disclosed.
Did UPSIDE Foods raise again after this round?
Yes: a Series B round in Jan 2020 of $161M at $500M post-money.