Eat Just, the alternative protein company formerly known as Hampton Creek, announced this week that it has raised an additional $200 million in a new round of funding. This latest round was led by Qatar Investment Authority, the sovereign wealth fund of the state of Qatar. Charlesbank Capital Partners and Vulcan Capital also participated in the funding as well.
The San Francisco-based company was founded in 2011 and has raised more than $650 million since its inception and has been valued at $1.2 billion. In October 2020, the company announced it was partnering with an Asian consortium that would invest $100 million to help Eat Just build "the largest plant protein production facility in Singapore." In late 2019, the company acquired a 30,000-sq.-ft. facility and 40 acres of land in Appleton, Minn., to scale up its protein extraction process that has become a building block of the company's analogue Just Egg consumer product.
Reuters is reporting that the new round of funding will be used to boost capacity and expand into new markets.
