GOOD Meat Valuation, Funding & Investors

GOOD Meat is valued at $800M as of May 2021.

Last GOOD Meat valuation

$800M

Undisclosed stage · May 2021

Last GOOD Meat funding round

$97M

Undisclosed stage · Sep 2021

Cumulative funding GOOD Meat raised

$267M

across 2 funding rounds

Key investors in GOOD Meat

  • K3 Ventures
  • Graphene Ventures
  • UBS O'Connor
  • Samarthya Investment Advisors
  • Resilience Reserve
  • Fernando Chico Pardo

GOOD Meat Overview

About GOOD Meat

GOOD Meat is a San Francisco-headquartered subsidiary of Eat Just producing cultivated chicken from animal cells without slaughter. Approved for sale in Singapore since 2020 and the U.S. in 2023, it supplies restaurants like Eat Just's own outlets. The process grows meat in bioreactors for sustainable protein matching conventional taste and texture.


Founded

2016

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$800M (May 2021)

GOOD Meat Valuation

GOOD Meat is currently valued at $800M, based on its undisclosed-stage round in May 2021.

The $170M round included Graphene Ventures, UBS O'Connor, Samarthya Investment Advisors and K3 Ventures.

GOOD Meat valuation by funding round

GOOD Meat valuation by funding round
DateStageValuation
May 2021Undisclosed stage$800M

GOOD Meat Funding History

GOOD Meat has raised a total of $267M across 2 funding rounds.

GOOD Meat's first fundraising round was a $170M undisclosed-stage round in May 2021. The most recent completed round was a $97M undisclosed-stage round in September 2021.

GOOD Meat funding rounds

GOOD Meat funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2021Undisclosed stageResilience Reserve; Graphene Ventures; UBS O'Connor; Fernando Chico Pardo; K3 Ventures$97M-GOOD Meat, the cultivated meat division of Eat Just, Inc., raised an additional $97 million in September 2021, bringing its ongoing funding round—initially announced as $170 million in May 2021—to a total of $267 million, marking the largest round for a cultivated meat company at the time. Investors included UBS O’Connor (a UBS Asset Management hedge fund), Graphene Ventures, K3 Ventures, Resilience Reserve (founded by Rob Reid and Chris Anderson), businessman Fernando Chico Pardo, and others, comprising both new and prior participants. The funds were earmarked to increase production capacity and accelerate R&D for cell-cultured meat products, such as chicken, following historic regulatory approval in Singapore and initial sales there. The company had recently achieved milestones including the world's first regulatory nod for cultivated meat for human consumption and serving GOOD Meat chicken at restaurants like 1880 in Singapore, later expanding to Madame Fan which replaced conventional chicken with the product. GOOD Meat positioned its offerings as sustainable alternatives to traditional animal proteins, targeting price parity with conventional chicken by 2030 in a projected $25 billion global cultivated meat market. Plans included building a $200 million production facility in Qatar pending local approvals. Concurrently with the funding, GOOD Meat bolstered its leadership by appointing former US Secretary of Agriculture Dan Glickman to its advisory board and ex-DuPont Executive Vice President Jim Borel to its board of directors, aiming to support global expansion and regulatory efforts, including pending US approval. Eat Just, the parent company known for JUST Egg, eyed an IPO potentially in late 2021 or early 2022 at a $3 billion valuation, though this pertained to the broader entity rather than specifically GOOD Meat's round.
May 2021Undisclosed stageGraphene Ventures; UBS O'Connor; Samarthya Investment Advisors; K3 Ventures$170M$800MGOOD Meat, a division of Eat Just, Inc., is a cultivated meat company that produces real meat directly from animal cells without raising and slaughtering animals. The company achieved a historic milestone in December 2020 when it received regulatory approval to sell cell-based chicken in Singapore, becoming the first company globally to offer cultured meat to consumers. In May 2021, GOOD Meat raised $170 million in Series Unknown funding at an $800 million post-money valuation, with lead investors including Temasek Holdings, Qatar Investment Authority, and Vulcan Capital, alongside other backers such as UBS O'Connor, Graphene Ventures, and K3 Ventures. The capital was designated to accelerate product development, expand operations, and scale globally. In a subsequent announcement in September 2021, the round expanded with an additional $97 million in new funding, bringing the total to $267 million—the largest fundraising amount in the cultivated meat sector at that time. The expanded investor syndicate included additional participants such as UBS O'Connor (a hedge fund within UBS Asset Management), Graphene Ventures, K3 Ventures, and Resilience Reserve. Following the September 2021 update, GOOD Meat also strengthened its governance by adding former USDA Secretary Dan Glickman to its advisory board and Jim Borel, former executive vice president of DuPont, to its board of directors. By the time of the funding announcement, GOOD Meat had already commercialized its cultured chicken products at restaurants in Singapore and partnered with Delivery Hero's Foodpanda for delivery, representing meaningful early-stage commercial traction in the nascent cultivated meat market.

Who has invested in GOOD Meat?

6 investors have backed GOOD Meat across its funding rounds, including K3 Ventures, Graphene Ventures, UBS O'Connor, Samarthya Investment Advisors, Resilience Reserve and Fernando Chico Pardo.


GOOD Meat Investors

Investors in GOOD Meat by funding rounds participated
InvestorHQRoundsRoleFirst check
Graphene VenturesUnited StatesUnited States2ParticipantMay 2021
UBS O'ConnorUnited StatesChicago, IL2ParticipantMay 2021
K3 VenturesSingaporeSingapore2ParticipantMay 2021
Resilience ReserveUnited KingdomUnited Kingdom1ParticipantSep 2021

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GOOD Meat Competitors

GOOD Meat competitors include listed companies like Standard Foods and Acomo, and private ones like Eat Just, Hungryroot, Goldbelly and Believer Meats.

Public and private companies comparable to GOOD Meat
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Eat JustUnited StatesSan Francisco, CAPrivate--$750M-
HungryrootUnited StatesNew York City, NYPrivate$175M-$750M4.3x
GoldbellyUnited StatesNew York City, NYPrivate$205M-$720M3.5x
Believer MeatsIsraelJerusalemPrivate--$900M-
Standard FoodsTaiwanTaiwanPublicly listed$875M$67M$804M-
AcomoNetherlandsNetherlandsPublicly listed$1.7B$147M$795M0.7x

GOOD Meat Public Comps

GOOD Meat is still privately-owned, but its public comps include Standard Foods, Acomo, Neto Malinda Trading, Frosta, John B. Sanfilippo & Son, Agrana Beteiligungs, Efor Cay, Atlantic Grupa, Yantai Shuangta Food and Coca-Cola Embonor.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Standard Foods$875M$67M0.8x-11.1x-
Acomo$1.7B$147M0.7x0.7x8.3x8.7x
Neto Malinda Trading$1.7B$123M0.5x-7.4x-
Frosta$785M$81M0.9x-8.9x-
John B. Sanfilippo & Son$1.2B$119M0.8x0.8x7.5x7.6x
Agrana Beteiligungs$3.7B$120M0.4x0.4x11.9x6.2x
Efor Cay$253M$12M3.4x-71.8x-
Atlantic Grupa$1.4B$121M0.8x0.8x9.1x8.5x

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Common questions about GOOD Meat

When was GOOD Meat founded?GOOD Meat was founded in 2016.
Where is GOOD Meat headquartered?GOOD Meat is headquartered in San Francisco, CA, United States.
Is GOOD Meat publicly listed?No, GOOD Meat is a private, VC-backed company.
What is GOOD Meat's valuation?GOOD Meat was last valued at $800M in its undisclosed-stage round in May 2021.
How much funding has GOOD Meat raised?GOOD Meat has raised $267M across 2 funding rounds.
What was GOOD Meat's last funding round?GOOD Meat's last funding round was a $97M undisclosed-stage round in September 2021.
Who are GOOD Meat's investors?GOOD Meat's investors include Graphene Ventures, UBS O'Connor, K3 Ventures, Resilience Reserve, Samarthya Investment Advisors and Fernando Chico Pardo.
Which companies are comparable to GOOD Meat?Companies comparable to GOOD Meat include Eat Just, Hungryroot, Goldbelly, Believer Meats, Standard Foods and Acomo.

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