Meati Foods

Meati Foods (formerly Emergy Food) is a Boulder-based startup that develops plant-based meat alternatives using a unique strain of mycelium (MushroomRoot), which claims to accurately imitate meat texture and sustainable production methods. In October 2023 , the company received a patent for a composition of matter containing Neurospora crassa (mycelium), granting the company exclusivity over Neurospora crassa-based product innovations till 2039. Meati’s portfolio includes classic cutlets, crispy cutlets, classic steaks , and Carne Asada steaks , available at retail outlets, foodservice venues, and through the company website.

In January 2023 , the company unveiled its 100,000 sq ft “Mega Ranch'' which handles end-to-end functions for its Eat Meati range of products. According to the company, this facility can produce at a rate of tens of millions of pounds per year by late 2023, putting it on par and even above some of the US’s largest animal-based ranches in terms of scale.

Key customers and partnerships

In July 2023 , the company partnered with Dot Foods, the US’s largest food distributor to increase its retail distribution by tapping into Dot Foods' network of 5,200 distributors. Following this, Meati partnered with PIPA, an AI company, to better understand and improve the health benefits of its plant-based meats. The collaboration aimed to utilize AI to accelerate research and gain insights into the health benefits of Meati's products made from mycelium. During the same month, Meati partnered with Whole Foods Market for the national distribution of its plant-based cutlets and steaks, which were made available at 500 Whole Foods outlets across 46 states.

Funding and financials

In its latest funding round in July 2022 , Meati raised USD 150 million in Series C funding led by Revolution Growth with participation from  CPP Investments, Grosvenor, Cultivate Next, and others. The company was valued at USD 650 million following this round. The funds raised were planned to facilitate the completion of its production facility as well as aid the company’s rapid growth strategy. As an extension to this funding round, the company also received an investment of USD 22 million from Rockefeller Capital.