Standard Meat Company
1101 NE 23rd Street, Fort Worth, Texas, 76164, United States
Overview
Standard Meat Company delivers beef, pork and poultry processing and packaging solutions for the food-service and retail industries.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Food and Beverage
- Food Processing
- Meat and Poultry
- Supply Chain Management
Investment portfolio
- Nowadays
Participated · Seed · Apr 2022
Nowadays produces a crispy plant-based riff on chicken nuggets made from seven ingredients, including pea protein, wheat flour, sunflower oil and yeast and mushroom extracts. The company uses a low-moisture extrusion process to create fibrous whole-cut products that are formed into nuggets now and intended for tenders and cutlets in the future. It partners with Standard Meat to access existing finishing lines and plans its own manufacturing facility capable of producing roughly six to 60 metric tons of meat per day when fully running. Commercial plans include a summer launch of cutlets direct-to-consumer and in select restaurants, expanded foodservice distribution, placement in certain Whole Foods Market stores later this year, and a gluten-free breading debuting this year. Elder would not disclose revenue, but Nowadays reports a repeat purchase rate of over 20% from early direct-to-consumer sales and has products in restaurants in New York and Los Angeles. The company is using recent funding to scale manufacturing, broaden distribution, and accelerate new product commercialization. Nowadays has launched a plant-based nugget positioned as a healthier alternative to conventional processed meat snacks, claiming the product contains just seven ingredients. The nuggets' key ingredients are yellow pea protein (non-GMO, grown in the US), wholewheat flour, sunflower oil, plant-based fibre, yeast extract, and mushroom extract. The company says the product delivers chicken-like flavour and texture, is high in protein, low in sodium, and free of saturated fat and sugar. Founders Max Elder and Dominik Grabinski bring roughly three and a half decades of combined food-industry experience; Grabinski previously worked for ingredient companies including Cargill and DSM, and Elder has advised Nestlé, General Mills and the Bill & Melinda Gates Foundation’s Nutrition Program. Nowadays is organized as a Public Benefit Corporation with social and environmental responsibilities written into its charter. The nuggets are available to order online in California with national shipping planned, retailing at $39.99 for a 2 lb box (about 50 nuggets) and a $29.99 introductory price for first purchasers. The company plans to launch a gluten-free version later this year and add plant-based "chicken" tenders to its lineup.