NotCo, a Chilean unicorn startup producing alternative meat and dairy products, has raised USD 70 million in a Series D1 investment round led by Princeville Capital. The round saw participation from existing investors such as Bezos Expeditions, Tiger Global, and L Catterton as well as new investors such as Marcos Galperin, founder and CEO of the largest Latin American tech company MercadoLibre.
The funding will be used to develop a B2B platform that will allow other producers to access the company’s patented AI platform Giuseppe, which matches animal proteins to substitutes among thousands of plant-based ingredients. Further, it is expected to help with expansion and preparation before the company’s planned IPO in 2025. The funding round reaffirmed NotCo's valuation of USD 1.5 billion.
Details as to how the platform will operate have not yet been disclosed.
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