Robert Downey Jr. invests in vegan bacon start-up

Yvonne O'Halloran

Robert Downey Jr.’s venture fund is now investing in a vegan brand. The fund, Footprint Coalition Ventures, has provided financial support to Atlast Food Co., an alternative protein startup. The brand has received an impressive $40 million from investors, a portion of that coming from the actor’s fund.

Atlast is not your average vegan company. Using mycelium, the fibrous root structure of mushrooms, they create “whole-cut” plant-based bacon, named “MyBacon.”

Unlike other meat alternatives, Atlast claims that their products both taste and feal like bacon without all those extra (and confusing) ingredients. MyBacon actually only has six ingredients: mycelium, coconut oil, cane sugar, sea salt, smoked flavors, and beet juice for color.

Other backers of Atlast include Viking Global Investors LP and AiiM Partners. Previously, Atlast, a spinoff of Ecovative Design, raised $60 million. Combined, these investments will help fund commercial-scale production of “Farm One,” the world’s largest aerial mycelium farm. Farm One is expected to be operational next year and will open next to Atlast’s New York headquarters.

The capital will also help with Atlast’s distribution plans. Their consumer brand, MyEats, is currently only sold in North America, but with the help from these recent investments, it is likely to expand to both Europe and Asia in the near future.

Article written by Tessa Altman- United States

 

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