[Business] Robert Downey Jr. Backs Vegan Bacon Brand As Part Of $40 Million Investment

 

Downey Jr. created Footprint Coalitin Ventures to help finance technology companies that seek to help tackle the world's environmental problems Credit: Justin Brown

Plant-based meat company, Atlast Food Co., has announced it secured a $40 million investment to scale up production of its sell-out MyBacon products – and one of the backers is actor Robert Downey Jr.

Atlast uses mycelium, a fiber found in mushrooms to create its vegan bacon – and thanks to the injection of funds, the next round of production can be sped up.
‘Incredible demand’

Among the investors were Viking Global, Stray Dog Capital, Downey Jr.’s Footprint Coalition Ventures, Applegate, Stonyfield, and Whole Foods.

The investment follows ‘incredible demand’ for the product, which is part of the MyEats brand.


Atlast’s President, Stephen Lomnes, said: “We are building the largest mycelium production facility in the US.” This is to provide consumers ‘a tastier alternative to their favorite animal proteins’, he added.

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