
“More and more entrepreneurs who see the potential of alternative proteins to succeed in the marketplace while having a positive global impact on food sustainability and global health.”
Investments in plant-based, cell-based and fermented protein businesses reached $3.1 billion in 2020, according to a new report from Good Food Institute (GFI).
The capital invested last year grew threefold from $1 billion in 2019 and four and a half times as much as the $694 million raised in 2018 making 2020 -a ‘breakout year for alternative proteins’ with ‘record investment flowing into all segments of the industry’.
$2.1 billion – the largest chunk of the investment was received by plant-based meat, dairy, and egg companies. It was more than three times the $667 million raised in 2019.
Investments this year included the $700 million figure Impossible Foods raised, as well as LIVEKINDLY‘s $335 million in VC financing and Oatly‘s $200 million private equity financing.
Cell-based companies focusing on lab-grown meat received $360 million in 2020 – six times more than the amount raised in 2019 and 72% of the amount raised in the industry’s history (2016–2020). The financing including $186 million to Memphis Meats and $75 million to Mosa Meat.
Fermentation startups ‘devoted to alternative proteins’ pulled in double the amount raised in 2019 amounting to $590 million in investments. Perfect Day received $300 million in Series C funding, and Nature’s Fynd received a debt round of $45 million.

‘Positive impact on food sustainability and global health’
Caroline Bushnell, the director of corporate engagement for the GFI said: “This is yet another signal of the significant potential the private sector sees in this rapidly growing global industry.”
She added: “While the amount is record-breaking, more investment is needed — from both the public and the private sectors — to meet the urgency of this moment. A large-scale shift toward alternative proteins will be critical to mitigating the environmental impact of food production, meeting the Paris Climate Agreement, and sustainably feeding a growing global population.”
Sharyn Murray, the senior investor engagement specialist for the GFI, added: “The investor community is waking up to the massive social and economic potential of food technology to radically remake our food system.
“Early trendsetters like Impossible Foods, Beyond Meat, Memphis Meats, and Mosa Meat continue to perform well, and there are more and more entrepreneurs who see the potential of alternative proteins to succeed in the marketplace while having a positive global impact on food sustainability and global health.”
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