Chunk Foods, a US-based producer of plant-based whole-cut meats, has secured an additional $7.5 million in seed funding and partnered with plant protein company Better Balance to expand its presence in Latin America.
With this latest capital injection, Chunk Foods has raised a total of $24 million, $22 million of which comes from seed financing. The funding round was led by Cheyenne Ventures, a current investor, with previous support from Robert Downey Jr.’s FootPrint Coalition, Fall Line Capital, the MIT E14 fund, and Better Balance, the plant-based subsidiary of Mexican food giant Sigma Alimentos. The company intends to utilize the funds to enhance distribution and manufacturing capabilities.
Furthermore, Chunk has entered a collaboration agreement with Better Balance to develop a new line of plant-based whole cuts. Better Balance will incorporate Chunk Foods’ 4oz steak into its offerings, marking Chunk Foods’ first venture beyond the US. The co-branded products will initially be available at six restaurants in Mexico during the pilot phase.
Chunk Foods’ founder and CEO, Amos Golan, expressed excitement about the partnership, stating, “It’s an honor to embark on this exciting journey with Better Balance, known for its commitment to delivering high-quality products. Together with Better Balance, we are elevating the plant-based category with innovative, delicious products that cater to the vibrant tastes and lifestyles of Mexico.”