SAN FRANCISCO, Calif. – Hooray Foods, a mission-driven creator of plant-based bacon, announced it raised a strategic seed extension of more than $2.7 million.
New strategic investors include David Hoffmann, the former CEO of Dunkin’, Lyra Growth Partners, with participation from existing investors, including Evolution VC Partners, Gaingels and Sand Hill Angels.
“I look forward to guiding Hooray Foods as they continue to expand,” said Hoffmann. “After witnessing the national appeal of meat alternatives in my previous roles at high-profile fast food brands, I am confident Hooray’s plant-based bacon will become a must-have on the menus at thousands of quick-service restaurants and sit-down establishments.”
“It is exciting to see Hooray’s bacon be so embraced by consumers seeking healthier alternatives to animal products, as evidenced by the rapid growth since launch just a year ago to almost 1,000 stores in which the product is available,” said Gregg Smith, founder of Evolution VC Partners.
The seed extension will allow Hooray Foods to scale production to keep up with growing sales. Since launching a year ago, Hooray Foods has sold more than 2 million strips of bacon, expanded nationwide at Whole Foods Market and entered Canada earlier this month. Hooray Foods will also use the seed funds to launch an improved version of its plant-based bacon next year. Additionally, the funds will support further development in new products of Hooray’s proprietary emulsion-forming technology, which has been crucial in setting its bacon apart from other meat-free bacon products and allowing for a replicated flavor and texture of real bacon.
“Changing what we eat, specifically reducing consumption of animal proteins, is the easiest step anyone can take to help slow climate change. Hooray is here to make this transition joyful and delicious,” said Hooray Foods founder Sri Artham. “We’re so grateful to have investor support to ensure consumers have access to plant-based options that are just as good as the real thing.”
To learn more about Hooray Foods plant-based bacon and to find the nearest store carrying the product, visit hoorayfoods.com.
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ABOUT HOORAY FOODS:
Hooray Foods has a vision for plant-based meats that closely mimic their animal counterparts while using ingredients that consumers can feel great about because eating should be a joyful, guilt-free experience. The hefty environmental impact of meat is the driving force behind the brand, but taste takes top billing. With a head office and test kitchen in San Francisco, Hooray is poised to take its plant-based bacon to plates across North America, while making a positive impact on the environment one crispy, delicious slice at a time! For a store locator and to learn more, visit hoorayfoods.com.