NotCo

NotCo

AI-driven plant-based meat and dairy producer

Overview

NotCo uses AI to design plant-based foods that mimic animal products. Its lineup includes NOTMilk, NOTChicken Patties, and NOTBurger, made from 100% plant ingredients. The AI chef Giuseppe engineers flavor and texture to replicate familiar animal-based profiles, enabling rapid product development. Revenue comes from selling through NotCo's website, Amazon, and retailers; the goal is to provide sustainable, tasty alternatives that reduce reliance on animal farming.

About NotCo

Simplify's Rating
Why NotCo is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Food & Agriculture

AI & Machine Learning

Consumer Goods

Company Size

501-1,000

Company Stage

Series D

Total Funding

$423M

Headquarters

Santiago, Chile

Founded

2015

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Simplify's Take

What believers are saying

  • Barry Callebaut’s November 2025 partnership expands NotCo into cocoa and confectionery innovation.
  • NotCo’s B2B pivot targets global CPG clients, with live programs across reformulation and scale-up.
  • Molinos’ June 2026 acquisition monetizes local operations and frees capital for higher-margin AI contracts.

What critics are saying

  • NotCo laid off 16 employees on July 31, 2026, including R&D and AI leaders.
  • NotCo sold Argentina and Uruguay operations to Molinos on June 17, 2026, shrinking consumer reach.
  • Profitability slipped to 2027 in February 2025; another consumer collapse leaves only consulting revenue.

What makes NotCo unique

  • NotCo AI’s Giuseppe platform turns ingredient data into manufacturable formulations, updated July 17, 2026.
  • Barry Callebaut partnered with NotCo on November 18, 2025, validating enterprise AI recipes.
  • Kraft Heinz and NotCo’s joint venture gives NotCo distribution leverage without owning North America sales.

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Funding

Total Funding

$423M

Above

Industry Average

Funded Over

5 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Meet Average

Industry standards

$77M
$70M
Twilio
$70M
NotCo
$80M
Handshake
$100M
Affirm

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

0%
BCC Research
Jun 25th, 2026
The sweet science: how AI is revolutionizing the $89 billion Confectionery Ingredients Market.

The sweet science: how AI is revolutionizing the $89 billion Confectionery Ingredients Market. Jun 25, 2026 Blog food-and-beverage the sweet science: how AI is revolutionizing the $89 billion Confectionery Ingredients Market. Remember when making chocolate was just about beans, sugar, and time? Those days are disappearing faster than Halloween candy. The global confectionery ingredients market is undergoing a technological transformation that would make Willy Wonka's head spin. Barry Callebaut, the world's largest chocolate manufacturer, recently partnered with AI company NotCo to develop entirely new chocolate formulations using artificial intelligence. Meanwhile, startups like Planet A Foods are creating cocoa-free chocolate alternatives that taste remarkably similar to the real thing. This isn't science fiction - it's the new reality of a $89.2 billion market expected to reach $117.7 billion by 2030, growing at 5.7% annually. The drivers behind this sweet revolution are surprisingly diverse. Rapid urbanization is fueling demand for ready-to-eat confections, while younger consumers embrace snacking as a lifestyle. Rising middle-class populations across Asia-Pacific - which leads the market at 29.8% - are driving premium confectionery consumption alongside growing disposable incomes. But perhaps most intriguingly, health consciousness isn't killing the candy market - it's transforming it. The clean-label movement is pushing manufacturers toward natural ingredients like plant-based gelling agents, while smart taste solutions now enable significant sugar reduction without sacrificing that perfect mouthfeel. Major players like Nestlé, Cargill, and Tate & Lyle are racing to develop reduced-sugar and functional candy formulations that satisfy both taste buds and wellness trends. Want the full picture? Download the free overview of its report Global Confectionery Ingredients Market for detailed forecasts, regional breakdowns, and emerging technology insights. Guiding smart decisions every step of the way. Bcc Research Llc is your trusted research partner, providing actionable insights and custom consulting across life sciences, advanced materials, and technology. Allow BCC Research to nurture your smartest business decisions today, tomorrow, and beyond.

vegconom GmbH
Nov 28th, 2025
South American Soy Milk Market Sees Steady Growth as Consumers Increasingly Embrace Plant-Based

South American soy milk market sees steady growth as consumers increasingly embrace plant-based. According to a new market report by DataM, the South American soy milk market is growing steadily as consumers embrace plant-based alternatives for health, wellness, and sustainability reasons. By region, Brazil takes the lead with a 45% market share, followed by Argentina at 30% and Colombia at 25%. By distribution channel, supermarkets and hypermarkets are in the top spot with a 54% share, likely due to their wide range of products, accessibility, and promotional offers. In comparison, online stores have a market share of just 22%, while convenience stores and other channels collectively capture 12%. The report cites recent developments in the industry, including: * Nestlé South America expanded its soy-based ready-to-drink beverages this month, introducing fortified calcium and vitamin blends tailored to regional nutritional needs. The launch targets rising demand for dairy alternatives across Brazil and Chile. * AdeS (owned by Coca-Cola Company Latin America) upgraded its soy beverage formulation last month to feature less sugar and an enhanced protein content, aligning with South America's growing health-conscious consumer base. * In September, NotCo introduced new soy-based milk alternatives created using its AI platform, Giuseppe. The products aim to replicate the texture and flavor of dairy for retail and foodservice channels. * Piracanjuba expanded the production capacity for soy beverages at its Goiás facility in August, supported by an investment of US$22 million to modernize equipment and increase output efficiency. A market poised for sustained growth. The growth of the South American soy milk market is believed to be fueled by lactose-intolerant individuals, vegans, and health-conscious consumers seeking dairy alternatives. Awareness of the nutritional benefits of soy is reportedly on the rise in the region, while technological advancements in flavor enhancement, fortification with vitamins and minerals, and extended shelf-life processing are improving product appeal and convenience. Furthermore, collaborations between soy producers, beverage manufacturers, and research institutions are claimed to be accelerating product innovation and diversification, resulting in the creation of options such as flavored and functional soy beverages. Government initiatives and marketing campaigns promoting nutrition, sustainability, and food security are also believed to be playing a role in the growth of the market. "With technological advancements, growing awareness of plant-based nutrition, and expanding distribution networks, the South American soy beverages market is poised for sustained growth," says DataM.

SG Network
Nov 18th, 2025
Barry Callebaut partners with NotCo AI to unlock next-level chocolate innovation

Barry Callebaut partners with NotCo AI to unlock next-level chocolate innovation. Zürich-Switzerland-based Barry Callebaut AG and NotCo AI, the first foundational AI platform for the consumer goods industry, have entered into an agreement to explore implementing artificial intelligence in chocolate recipe development. | / | More about Barry Callebaut AG | According to the press release, the strategic partnership merges Barry Callebaut's century-long chocolate expertise with NotCo's cutting-edge AI capabilities, aiming to accelerate innovation and deliver faster, more tailored customer experiences. By exploring new frontiers in taste, texture, and sustainability, the collaboration promises richer, more chocolatey solutions to meet evolving consumer expectations. The partnership marks the first AI powered integration in the food industry and aims to merge Barry Callebaut's high- quality ingredients data, global manufacturing, supply chain, and distribution infrastructure with NotCo AI's advanced platform to create an end-to-end AI innovation hub. Together, the companies are exploring to build a new framework for chocolate innovation: one that is smarter, faster, more sustainable, and fully scalable to meet evolving customer and consumer needs. "This agreement marks an exciting step forward for Barry Callebaut and for our customers," said Peter Feld, CEO of Barry Callebaut. "It reflects our commitment to creating best customer experience by boosting innovation and speed to market. By combining our deep chocolate expertise and global reach with NotCo's advanced AI capabilities, we're aiming to unlock speed for breakthrough recipe solutions - from health-forward formulations to functional ingredients and Nutri-Score-friendly options. With the pace of change across the industry and the cocoa market, our customers' needs are evolving rapidly. This collaboration enables us to test how AI can enhance process efficiency and scale our innovation efforts to meet future demands and allows us to accelerate our ways of working to deliver the best possible customer experience." The project aims to explore the development of the next generation of chocolate, potentially setting a new standard for how food companies innovate. By testing AI-driven formulation processes, the collaboration seeks to shorten development cycles, improve hit rates, and digitally empower every scientist and chef to create with unprecedented speed and precision, delivering exceptional taste while advancing sustainability goals. "Our high fidelity data corpus collected for the past 10 years has become the most fundamental value proposition for the next generation of CPG and ingredient companies of the future," said Matias Muchnick, Co-Founder and CEO of NotCo AI. "By integrating Barry Callebaut's unparalleled chocolate knowledge with our general purpose approach platform, we're creating a personalized and unique innovation engine that will set a new standard for the entire industry." The initiative forms part of Barry Callebaut's multi-year digitalization agenda, where Barry Callebaut is pioneering the chocolate industry by entering into the AI era and reinforcing the company's commitment to deliver breakthrough innovation and its position as the trusted partner for chocolate solutions and one of the biggest chocolate suppliers worldwide in the food and beverage industry.

Food Dive
Jul 16th, 2025
Kraft Heinz, NotCo heat up plant-based mayo with spicy offering

The CPG giant and food tech company NotCo are launching a spicy mayonnaise and a portable cup version of their Kraft NotMac & Cheese.

vegconom GmbH
Jun 24th, 2025
NotCo Teams Up with PepsiCo to Introduce Plant-Based Doritos and Nuggets in Chile

NotCo teams up with PepsiCo to introduce plant-based Doritos and nuggets in chile.

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