Plant-based egg producer – Attracted $200 million investment
Eat Just offers a plant-based egg substitute intended to provide healthy and nutritional food alternatives.
‘Just Egg’ is composed of vegetable protein made from mung beans, and has a taste and texture similar to eggs, but is a healthy food with no cholesterol and low saturated fat.
The water required to produce 44mL of Just Egg is 2.2L, which is an environmentally friendly and ethical food compared to 139L of an egg, and is available on the market at $3.9 for 355mL.
Eat Just
Eat Just offers a plant-based egg substitute intended to provide healthy and nutritional food alternatives. It applies science and technology to create healthier, more sustainable foods and the key ingredient is protein from the mung bean and it is cholesterol-free, non-GMO, and packed with as much protein as many animal proteins. Its ingredients use less water, less land, and emit less CO2e than conventional animal sources, enabling customers to prepare their food items with the required nutrients and protein of an egg.
General Information
- Headquarters : San Francisco, CA
- Founders : Josh Balk, Josh Tetrick
- Categories : Food and Beverage, Food Processing, Nutrition, Organic Food
- Founded : 2011
- Contact : wecare@ju.st
Funding
- Investors: Charlesbank Capital Partners, Qatar Investment Authority, Vulcan Capital
- Funding Rounds (11) - $440M
- Mar 23, 2021 Venture Round / $200M
- Mar 12, 2021 Secondary Market
- Nov 30, 2020 Venture Round
- Nov 1, 2018 Convertible Note
- May 1, 2017 Series E
- Aug 1, 2015 Series D / $120M
- Dec 18, 2014 Series C / $90M
- Feb 17, 2014 Series B / $23M
- Sep 1, 2013 Series A / $4M
- May 20, 2013 Seed Round / $1M
- Jan 1, 2011 Seed Round / $2M
1. Reason for attention
- There are two main methods of producing meat substitutes: one made by plant-based method and one by culturing cells.
- Growing interest and investment in meat substitutes as products from plant-based meat giants Beyond Meats and Impossible Foods are sold in major grocery stores
- Eat Just, unlike these companies, produces chicken by culturing cells.
2. Current Business status
- Since launching the business under the name Hampton Creek in 2011, it has received more than $650 million in investment to produce alternative eggs, mayonnaise and cell cultured chicken.
- Experience of ups and downs in 2017, including CEO surviving internal control struggle, changing all board members and changing company name from Hampton Creek to Eat Just
- We are currently producing egg-free eggs and mayonnaise using mung beans as alternative protein products, and we are producing laboratory-raised cultured chicken.
- Eat Just's products are sold in more than 20,000 locations and have so far served the equivalent of 100 million eggs to 1 million households in the United States and are also available in China and Canada.
3. Competition
- Beyond Meat
- Impossible Foods
- UPSIDE Foods (ex. Memphis Meats)
- Simulate
4. Future Prospects
- Substitute meat, which currently accounts for 1% of the total meat market, is in the spotlight as a safe and sustainable food, and is expected to grow to 10% ($140 billion) in 2029.
- In particular, cell culture products are evaluated as safe foods with a texture similar to actual meat, and many companies are expected to develop competitively in various product areas for the time being.
Source: Eat Just
👉• Web: https://www.ju.st/
👉• Video: JUST Egg - YouTube
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