NotCo, a Chilean innovative food technology company, raised $30M in funding.
The round was led by The Craftory, a $300M global investment fund, with participation from the family office of Jeff Bezos, and existing investors Kaszek Ventures and IndieBio.
The company intends to use the capital for technological advancement, new product development and moving into new markets including Mexico and the US later this year.
Founded in 2015 by biotech guru Matias Muchnick, biochemist Pablo Zamora and computer scientist Karim Pichara, NotCo is a blend of machine AI and good human taste buds to develop alternative, plant-based replacements for mayonnaise, milk, ice cream, meat and other animal-based products.
The company leverages Giuseppe, a machine AI platform which analyzes molecular structures to create unique food combinations derived only from plant-based ingredients.