US company Prime Roots crosses the “scale up valley of death” as it raises USD30m and teams up with Quorn Foods expand its fungal deli meat range. One of the key events I look for in a new technology company is when they team up with, and especially get investment from, a large established player in the same supply chain. This is crucial to any start-up as the established player brings to the table all the things the start-up lacks. Things like large scale manufacturing expertise, distribution, logistics etc. Once we see this occur the probability of success, while still not 100%, increases significantly.
Prime Roots product takes only 3-5 days to manufacture. Furthermore they claim that their products are “98% more sustainable than conventional meat according to a third-party life cycle assessment”. Their products offer alternatives to 75% of products in the deli case, covering ham, turkey, salami, pepperoni and bacon.
I’m hoping that this partnership and many others in the protein space are destined for success. Otherwise, where else will we get the protein we need to feed the growing middle classes and nearly 10 billion in 2050?
