NotCo, a New York-based food tech company, raised $235M in Series D funding at at a $1.5 Billion valuation.
The round was led by TigerGlobal with participation from DFJ Growth Fund and ZOMA Lab, Bezos Expeditions, EHI, Future Positive, L Catterton and Kaszek Ventures, as well as athletes Lewis Hamilton and Roger Federer and musician and DJ Questlove.
The company intends to use the funds to accelerate growth in the U.S., expand into Europe and Asia, and product categories, and scale up its proprietary patented A.I. technology.
Led by Founder and CEO Matias Muchnick, NotCo is a food tech company which utilizes proprietary artificial intelligence technology, called Giuseppe, which matches animal proteins to their ideal replacements among thousands of plant-based ingredients. NotCo has launched products including NotMilk™, NotBurger™, NotMeat™, NotIceCream™ and NotMayo™ in the U.S., Brazil, Argentina, Chile, and Colombia.
The company operates in five countries in both retail and foodservice, and already has five U.S. patents for its proprietary A.I. technology.