- Fazenda Futuro was valued at $100 million after an investment round last year;
- Giants such as Beyond Meat and Impossible Foods play in the same field.
Fazenda Futuro, a Brazilian startup that makes plant-based burgers, will launch a new product next month. The so-called “linguiça do futuro”, or “sausage of the future”, will mimic the taste, appearance and flavor of a pork sausage, but will actually be made from ingredients like peas, soybeans, chickpeas and beets.
According to the a story ran by Pequenas Empresas & Grandes Negócios, the product may reach its 6 thousand points of sale, through grocery and restaurants chains, in Brazil and the Netherlands.
The Brazilian foodtech was created in April 2019. The startup is based in Rio de Janeiro and this year raised $8.5 million, in an investment led by the Monashees fund (investor in startups like 99, Peixe Urbano and Rappi). After the round, the company of 110 employees was valued at $100 million.
The sausage will also arrive in April in the Dutch market, where Fazenda Futuro has been operating since January. “Brazil is today one of the largest meat exporters. It makes sense that we are also one of the largest exporters of plant-based food”, said Marcos Leta, CEO and founder of Fazenda Futuro, in an interview to O Estado de S. Paulo.
Fazenda Futuro’s venture is espoused by Californian foodtech Beyond Meat, that was valued at almost $5 billion after going public. Impossible Food, also from California, is another big competitor that has received more than $700 million from investors.
In Latin America, Chile’s NotCo, recently included in a list of the most promising startups using artificial intelligence, is backed by Amazon’s Jeff Bezos, does not offer meat, instead focusing on plant-based mayonnaise, milk and ice cream.