Plant Egg Company Gains Funding for Expansion

US - Hampton Creek, a technology company pioneering in food that has developed an artificial egg from plant-derived ingredients, has completed a $23 million Series B financing round.
calendar icon 19 February 2014
clock icon 3 minute read

The financing was led by Mr. Li Ka-shing’s Horizons Ventures and includes participation from Jerry Yang and AME Cloud Ventures, Ali and Hadi Partovi, Jessica Powell of Google, Scott Banister, and Ash Patel. Early investors Khosla Ventures, Collaborative Fund, and Kat Taylor and Tom Steyers’ Eagle Cliff also participated. Hampton Creek has received a total of $30 million in funding to date.

Hampton Creek will use the funds to accelerate its rapid growth in North America, expand its operations to Asia, pursue strategic partnerships, and grow their team. Hampton Creek has built a unique technology platform to enable the production of healthier food at a lower cost, starting with the safe and sustainable option of the conventional chicken egg. In the last 90 days, the company has signed partnership agreements with 6 Fortune 500 companies, including some of the largest food manufactures and retailers in the world.

“Technology enables everyone to have more options to better our future together. To keep up with all the demands for the growing global population, we need to be more efficient, more environmentally friendly, and have more quality and affordable choices,” said Mr. Li Ka-shing.

CEO and founder, Josh Tetrick, said, "We live in a time where the unhealthy choice is dirt cheap and convenient. And the healthy choice is pricey and inconvenient. When my Dad walks the grocery aisles to buy mayo or chocolate-chip cookies or eggs, the inputs that make them possible often come from bizarrely unhealthy places.

"Our goal has always been to build a company that brings healthier and affordable food to everyone, everywhere. Solving a problem means actually solving the problem for most people – not just the folks that can afford to pay $5.99 for organic eggs. We’re thrilled to have such world-class investors joining forces with us.”

The mission of Hampton Creek, according to its web site, is to bring healthy and affordable food to everyone, everywhere. The company received the Best of What’s New 2013 Grand Award by Popular Science for its 'plant-based egg'. Hampton Creek’s partners include The Humane Society of the United States and Global Viral, an organisation dedicated to addressing the world's most pressing infectious disease threats. Josh Tetrick, a Fulbright Scholar and former college football player, co-founded Hampton Creek in 2011 after spending seven years working in Sub-Saharan Africa with the President of Liberia and the United Nations, among other initiatives.

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