Full-Time
Posted on 5/14/2025
Produces plant-based meat alternatives from mycelium
$120k - $158k/yr
Senior, Expert
Thornton, CO, USA
Meati Foods creates plant-based meat alternatives using mycelium, the nutrient-rich root of mushrooms. Their products are designed for health-conscious and environmentally aware consumers who want sustainable food options. By mimicking the taste and texture of traditional meat, Meati Foods provides a solution that avoids the environmental impact of animal farming. Their products are sold through major retailers like Super Target and directly to consumers via their website. What sets Meati Foods apart from competitors is their focus on mycelium, which is high in protein and free from common allergens like soy, gluten, and wheat. The company's goal is to meet the growing demand for animal-free meat products as more people seek healthier and more sustainable food choices.
Company Size
51-200
Company Stage
Series C
Total Funding
$449.3M
Headquarters
Chicago, Illinois
Founded
2017
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Meati Foods, a mycelium-based alternative meat startup in Colorado, has filed for a sale to a new company, Meati Holdings, for just $4 million. This comes amid severe financial difficulties, as the company was valued at $650 million in July 2022. The sale price is less than 1/160th of its previous valuation. The filing in a Colorado district court highlights the company's financial crisis, exacerbated by a bank seizing most of its deposits.
Boulder-based Meati Foods, known for its mushroom-based meat alternatives, is set to be sold for $4 million. This comes after the company raised nearly $450 million from investors. The pending deal was disclosed in court filings in Adams County District Court, where Meati requested that the buyer be allowed to manage the company before the sale is finalized.
Alt meat startup Meati has temporarily avoided a financial crisis by securing bridge funding. While this funding has brought the company back from the brink, it is still not completely out of danger.
Fungi-fueled alt meat startup Meati Foods almost doubled revenues in 2024 vs 2023 and is on course to achieve positive gross margins by the end of the year, says CEO Phil Graves. A high-profile player in the meat alternatives space with $365 million in funding, Meati has engaged in four “painful” rounds of layoffs over the past couple of years in a bid to streamline operations and accelerate the path to profitability. However, things are moving in the right direction, claimed Graves, who was speaking to AgFunderNews after launching a new line of breakfast patties into Sprouts stores nationwide (280 stores) and securing new listings in Raley’s (118 stores) and Harris Teeter (250 stores), taking its store count to around 7,000 doors
“The product is fantastic,” says Phil Graves, who took the helm at fungi-fueled alt meat startup Meati Foods in February. “But it was clear when I joined that the business needed to make some strategic shifts and needed to make them quickly.”. Meati, which has raised $365 million to support its mycelium-based steaks and cutlets since it was founded in 2015, has engaged in four “painful” rounds of layoffs over the past couple of years. But is also recruiting staff as it focuses on accelerating its path to profitability, says Graves, a former Patagonia executive who took the helm following the departure of CPG veteran Scott Tassani, who raised some eyebrows early last year after predicting Meati would generate $1 billion in retail sales in five years