NotCo uses a proprietary artificial‑intelligence platform called Giuseppe to recreate the taste, texture, functionality and smell of animal‑based foods using only plant ingredients; the technology is covered by 12 U.S. patents. The company sells branded products such as NotMilk™, NotBurger™ and NotChicken™ through retail and foodservice channels and reports placement in over 10,000 stores including Costco, Whole Foods, Amazon and others. NotCo has pursued B2B expansion, launching a new B2B unit and platform to license Giuseppe to other CPG brands, ingredient suppliers and technology partners. It has already demonstrated licensing via a joint venture with Kraft Heinz, The Kraft Heinz Not Company, to reimagine Kraft products. The company touts dramatically faster R&D timelines using its AI — cutting development from years to months — as a core advantage for scaling plant‑based innovation. Financially, NotCo recently completed a $70M Series D1 that reaffirmed a $1.5B valuation at the same share price as its July 2021 Series D. NotCo builds plant-based consumer products — including NotMilk, NotBurger/NotMeat, NoticeCream and NotMayo — sold in the U.S., Brazil, Argentina, Chile and Colombia and carried in retailers like Whole Foods, Sprouts and Wegmans. Its proprietary AI, Giuseppe, analyzes thousands of plant ingredients to recreate animal-protein attributes and accelerate product development. The company has raised more than $350 million to date and completed a $235 million Series D at a $1.5 billion valuation. Sales have grown roughly threefold annually over the past four years, and the company currently employs about 100 people with plans to double headcount in two years. NotCo plans to expand into Mexico and Canada, increase U.S. and Chile market share, and pursue Asia and Europe expansion within the next year while adding new products such as chicken/white meats and seafood and investing in R&D and additional patents. NotCo uses a patented artificial intelligence platform called Giuseppe to identify plant ingredients that replicate the taste, texture, and functionality of animal-based foods. The company has launched products across multiple categories — NotMilk™, NotBurger™, NotIceCream™ and NotMayo™ — and competes in five countries within four product categories. NotCo recently rolled out NotMilk nationwide at Whole Foods in the U.S. and confirmed distribution in more than 3,000 stores in the first half of 2021. The company operates in the U.S., Brazil, Argentina, Chile and Colombia and says it is the largest and fastest-growing food tech company in Latin America. Management plans to use new capital to accelerate U.S. expansion, deepen entry into NYC foodservice, and fund new category innovation in Latin America. NotCo has raised more than $130 million to date and said the latest investment was made at a higher valuation than its prior round, with a goal of reaching a $1 billion valuation by the end of 2021. NotCo is built on proprietary artificial intelligence that matches animal protein to ideal plant-based ingredients to recreate the taste and behavior of dairy, eggs and meat. The company has launched NotMilk, NotBurger, NotIceCream and NotMayo across Brazil, Argentina and Chile and says it has become the largest and fastest-growing food-tech company in Latin America in less than three years. NotCo has commercial partnerships with Burger King and Papa John’s in Chile and will evaluate additional food-service and retail partners as it expands. The company plans to scale operations internationally with an entry into the United States and will base co-founders Matias Muchnick (CEO) and Karim Pichara (CTO) in the U.S. to accelerate expansion. NotCo has added senior hires for global marketing, business development, R&D and operations to build its leadership team. The firm cites accelerating market demand for plant-based products—U.S. grocery sales of direct animal-replacement plant-based foods grew 29% to $5 billion over two years—as supporting its expansion plans. NotCo is a Chilean food-technology company that develops plant-based replacements for mayonnaise, milk, ice cream, meat and other animal-based products. The company combines machine AI and human taste expertise to design recipes, leveraging Giuseppe, a machine AI platform that analyzes molecular structures to create unique plant-based combinations. NotCo was founded in 2015 by Matias Muchnick, Pablo Zamora and Karim Pichara. The business focuses on alternative, plant-based consumer packaged foods across multiple categories. The $30M raised will be used for technological advancement, new product development and expansion into new markets, including Mexico and the US later in the year. Existing investor relationships include Kaszek Ventures and IndieBio.

Total raised

$420M

Funding rounds

5

Latest round

Series D

Latest activity

Dec 2022