Meati Foods is closer to full-scale production of its whole-food protein made from the structural fibers of mushrooms, known as mycelium. The company announced Thursday the opening of its production facility, dubbed “Mega Ranch,” in Colorado.
The 100,000-square-foot facility was financed in part by a $150 million Series C round of capital raised last year and a brand new extension round of $22 million. This will enable Meati to produce an annual rate of tens of millions of pounds by late 2023. Once fully ramped up, the facility will have the capability of producing over 45 million pounds of product.
Tyler Huggins, co-founder and CEO of Meati Foods, told TechCrunch that the company wasn’t actively seeking additional capital, but had decided to keep the Series C round open due to additional investor interest.
“There ...
