Plantible

Overview

Plantible Foods is a pioneering food technology company that specializes in producing plant-based protein products. Founded in 2018 by Tony Martens Fekini and Maurits van de Ven, the company aims to revolutionize the global food supply chain by developing Rubi Protein, a sustainable and functional protein derived from Lemna, commonly known as duckweed. Plantible Foods is headquartered in San Marcos, California, and has raised over $56.6 million in funding to date. The company focuses on creating clean-label, allergen-free, and nutritionally superior food ingredients for a diverse range of applications.

Recent Developments

November 15, 2024: Plantible Foods announced the closure of a $30 million Series B funding round, co-led by Piva Capital and Siddhi Capital, with participation from Betagro Ventures, Cultivate Next, and Nourish Ventures. This funding will expand Plantible's manufacturing capabilities at "The Ranchito," a 100-acre facility in West Texas, aiming to increase revenue tenfold within the next 12 months.
October 2024: Featured as one of the main food trends expected to explode in 2025, Plantible's Rubi Protein was highlighted for its capacity to improve the taste and texture of plant-based and allergen-free foods.
June 2024: Plantible Foods' Lemna/Rubi protein gained attention as an alternate protein source, offering benefits in both baking and as a meat alternative while addressing positive climate impact.
October 2023: Partnered with ICL Food Specialties to launch a clean-label binding solution to replace methylcellulose in plant-based meat and seafood applications. This solution leverages Rubi Protein for its superior nutritional and functional properties.
September 2023: Recognized for advancing food system sustainability, demonstrating the potential of Rubi Protein in clean-label applications.

Attribute	Information
Founding Date	2018
Headquarters	San Marcos, California, USA
Founders	Tony Martens Fekini, Maurits van de Ven
Revenue	Undisclosed
Profits	Undisclosed
Key Investors	Piva Capital, Siddhi Capital, Betagro Ventures, Cultivate Next, Nourish Ventures, Astanor Ventures
Industry	Food Technology
Number of Employees	710

Early History

Plantible Foods was founded in 2018 by Dutch entrepreneurs Tony Martens Fekini and Maurits van de Ven. Driven by the urgent need to address global food security challenges and the unsustainability of traditional animal protein sources, the founders discovered Rubi Protein, a highly functional and eco-friendly protein extracted from Lemna. Through their innovative vertically integrated agricultural platform, they set out to harness the sustainability and nutritional benefits of duckweed to create a plant-based protein alternative that rivals animal-based proteins in both functionality and nutritional profile.

Company Profile and Achievements

Plantible Foods has made significant strides in the food technology industry by developing Rubi Protein, which outperforms traditional animal and plant proteins in functionality and nutrition. Key achievements include:

Development of a vertically integrated agricultural platform to efficiently cultivate and process Lemna.
Launch of Rubi Protein, recognized for its clean-label, allergen-free, and nutritionally complete properties.
Successful partnerships with major investors such as Piva Capital and Siddhi Capital, culminating in a substantial $30 million Series B funding round.
Expansion of "The Ranchito," a state-of-the-art commercial plant to scale production and meet growing demand.
Collaboration with ICL Food Specialties to replace methylcellulose in plant-based products, enhancing their consumer appeal for health-conscious markets.

Current Operations and Market Position

Currently, Plantible Foods operates a commercial-scale facility in Texas, focused on the large-scale production of Rubi Protein. The company has positioned itself as a leader in the alternative protein market by providing a sustainable solution that caters to the needs of modern food systems, addressing consumer demand for clean-label and allergen-free products. Plantible Foods continues to work with strategic partners and has secured multi-million dollar contracts with large food companies, reinforcing its strong market position and potential for global expansion.

Plantible Company Owner

Co-founders Tony Martens Fekini and Maurits van de Ven have steered Plantible Foods from its inception, driving its mission to transform the global food system with innovative plant-based solutions. Their leadership focuses on sustainable business practices and fostering partnerships that align with Plantible's commitment to environmental and social responsibility.

Plantible Funding

Plantible Foods has raised a total of $56.6 million over multiple funding rounds, securing significant investor interest in its mission to revolutionize the food industry. The latest Series B round of $30 million will support further expansion and innovation, demonstrating strong market confidence in Plantible's potential.

Conclusion

Plantible Foods stands as a commendable innovator in the plant-based protein industry, leveraging its proprietary technology to develop Rubi Protein from Lemna. With substantial funding, strategic partnerships, and a commitment to sustainability, Plantible Foods is poised to make significant impacts on the global food system. The company's dedication to providing high-quality, nutrient-dense, and environmentally friendly protein solutions positions it at the forefront of the alternative protein market, with promising prospects for future growth and influence.