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Plant Based Food Startup Gets Funding From Jeff Bezos’ Investment Group

by | March 12, 2019

A tablespoon of vegan mayonnaise gets a Chilean plant based food startup millions in funding from the world’s richest man, Jeff Bezos himself! Sounds unbelievable right? Keep reading to know how a spoonful of mayonnaise turned the life around for the Chilean start up.

Plant Based Food Start-Up Gets Funding From Jeff Bezos' Investment Group
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Startup Gets Funding From Jeff Bezos’ Investment Group

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Plant Based Food Startup Gets Funding From Jeff Bezos’ Investment Group

Founded in 2015, NotCo is a Chile based vegan food company that makes delicious plant based alternatives to ice cream, mayonnaise, yogurt and cheese. Based in a country that hasn’t attracted much attention from Tech media, NotCo’s success in receiving funding from Bezos Expeditions, Amazon founder Jeff Bezos’ investment group, comes as a big surprise.

What made this possible?

The answer is in Mayonnaise. Chile ranks 9th globally in the per capita consumption of mayo, as per market research firm Euromonitor’s survey. The Chilean company decided to channelize the passion for mayo into creating cruelty free plant based alternatives to it. And they did it brilliantly.

The plant based food startup caught Bezos’ attention and recently received a new round of financing worth $30 million dollars from Bezos Expeditions, as reported by the Fast Company. Mr. Matías​ ​Muchnick , CEO and one of the founders of NotCo has been quoted as saying,

“We are the only plant-based company that has acquired more than 10 percent of market share in a category in one country and 92 percent of our customers are not vegan so it’s a mainstream product”.

Mr. Matías​ ​Muchnick, CEO and Co-founder, NotCo
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Speaking to the Fast Company, Mr. Muchnick said they are expanding to Brazil this month and will be entering the US market by 2020. He explains that their rapid expansion plans and the capability to scale up in relatively short period of time, besides the success of vegan mayo, drew Bezos expeditions interest that resulted into funding.

NotCo’s famed vegan mayo is made from garbanzo beans and is available in over 1000 stores all over the country including Wal-Mart. Eager for the launch of NotCo’s vegan mayo in the US? Comment below.

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