China is a notoriously difficult market for international startups to crack, but one company seems to have found the recipe for wooing the country’s picky consumers. Three years after Eat Just launched in China, the San Francisco-based company is ready to put more alternative protein products in that market.
The investment was part of a round announced in May that raised $170M. This brings the round to $267M, making it the largest ever for cultivated meat, which backers say will help to meet the world’s rising demand for animal products in a more humane and environmentally friendly way.
Eat Just, is targeting “at least” $3 billion in valuation for its IPO that will likely happen in Q4 2021 or early next year, according to one of the leading investors of the plant-based eggs producer.