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- Nature's Fynd
Nature's Fynd Valuation, Funding & Investors
Nature's Fynd is valued at $1B as of June 2021.
Last Nature's Fynd valuation
$1B
Series C · Jun 2021
Last Nature's Fynd funding round
$350M
Series C · Jun 2021
Cumulative funding Nature's Fynd raised
$463M
across 3 funding rounds
Key investors in Nature's Fynd
Breakthrough Energy Ventures
BAM Elevate
Danone Manifesto Venture
1955 Capital
SoftBank Group
Blackstone
About Nature's Fynd
Nature's Fynd is a Chicago-headquartered food technology company producing Fy protein from microbes isolated in Yellowstone National Park's geothermal springs. The firm ferments the protein into meat alternatives like Fy Nuggets and Fy Butter using one-tenth the resources of animal agriculture. Nature's Fynd sells products in select U.S. grocery stores and partners with foodservice providers.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1B (Jun 2021)
Sectors
Nature's Fynd Valuation
Nature's Fynd is currently valued at $1B, based on its Series C in June 2021.
The $350M round was led by SoftBank Group, with participation from Balyasny Asset Management, Blackstone, SK Holdings, Hillhouse Investment, BAM Elevate and 2 other investors.
Nature's Fynd valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2021 | Series C | $1B |
Nature's Fynd Funding History
Nature's Fynd has raised a total of $463M across 3 funding rounds.
Nature's Fynd's first fundraising round was a $33M Series A in February 2019. The most recent completed round was a $350M Series C in June 2021.
Nature's Fynd funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series C | SoftBank Group (lead); Balyasny Asset Management; Blackstone; SK Holdings; Hillhouse Investment; BAM Elevate; EDBI; Hongkou | $350M | $1B | Nature's Fynd is a Chicago-based food company that produces sustainable, nutritional protein called Fy from a microbe discovered in the geothermal springs of Yellowstone National Park, using fermentation technology combined with robotics for efficient production compared to animal or soy-based proteins. The company raised $350 million in an oversubscribed Series C funding round on July 19, 2021, led by SoftBank Vision Fund 2, with new investors including Blackstone Strategic Partners, Balyasny Asset Management (via BAM Elevate), Hillhouse Investment, EDBI, SK Inc. (SK Holdings), and Hongkou, plus participation from existing backers like Breakthrough Energy Ventures, Generation Investment Management, 1955 Capital, Danone Manifesto Ventures, and Archer Daniels Midland. This brought total funding to over $500 million. At the time of the round, Nature's Fynd had no products on the market but planned a limited U.S. rollout later in 2021, followed by nationwide launch and international expansion into Asia in 2022. Proceeds were allocated to expanding production capacity at a new state-of-the-art facility in Chicago's Union Stockyards, developing partnerships for retail, quick-serve restaurants, and high-growth channels, enhancing its product portfolio, and laying foundations for global growth. The company demonstrated commercial-scale production of Fy leveraging automation. Investors highlighted the potential for scalable, sustainable protein amid global demand, positioning it as a leader in alternative proteins alongside recent mega-rounds in the sector. |
| Mar 2020 | Series B | Breakthrough Energy Ventures (lead); Generation Investment Management (lead); 1955 Capital; Danone Manifesto Venture; Archer-Daniels-Midland; Mousse Partners | $80M | - | Nature's Fynd, a Chicago-based food tech company formerly known as Sustainable Bioproducts, produces a versatile protein called Fy from a microbe discovered in Yellowstone National Park's geothermal springs. The protein is grown via fermentation using a fraction of the land and water resources of traditional agriculture and contains all nine essential amino acids, dietary fiber, calcium, and vitamins, enabling applications in alternative meat, dairy products, protein drinks, and powders. The company began production at its 35,000-square-foot Chicago manufacturing facility in March 2020 and employed about 50 people across Chicago and Bozeman, Montana, planning to add over 100 more by year-end. On March 24, 2020, Nature's Fynd raised $80 million in a Series B funding round co-led by Breakthrough Energy Ventures—a $1 billion climate-focused fund backed by investors like Bill Gates, Jeff Bezos, and Richard Branson—and Generation Investment Management, a $25 billion sustainable investment firm chaired by Al Gore. Participating investors included 1955 Capital, Mousse Partners, ADM Ventures (venture arm of Archer Daniels Midland), and Danone Manifesto Ventures (venture arm of Danone). The funds supported commercialization of Fy-based foods across breakfast, lunch, dinner, and snacks, following a $33 million Series A in 2018. Subsequent raises included $45 million in venture debt from Oxford Finance and Trinity Capital in December 2020 for go-to-market expansion and a $350 million Series C in 2021 led by SoftBank Vision Fund 2 with participation from existing investors, bringing total funding over $500 million across multiple rounds. The company aimed to launch consumer products in 2022, targeting retail, quick-serve restaurants, and Asia amid rising alternative protein investment. |
| Feb 2019 | Series A | 1955 Capital (lead); Breakthrough Energy Ventures; Danone Manifesto Venture; BAM Elevate; ADM Ventures; Lauder Partners | $33M | - | Nature's Fynd (formerly Sustainable Bioproducts) is a food technology company that produces alternative protein from a microorganism discovered in the geothermal springs of Yellowstone National Park. The organism, which thrives in extreme acidic conditions, was identified through NASA-supported research and produces a complete protein called Fy containing all nine essential amino acids along with dietary fiber, calcium, and vitamins. The company's fermentation process achieves high efficiency, capable of producing approximately two tons of meat-like product from one ton of sugar. In February 2019, Nature's Fynd closed a $33 million Series A funding round led by 1955 Capital, with participation from Breakthrough Energy Ventures, ADM Ventures, Danone Manifesto Ventures, Lauder Partners, and the Liebelson family office. The company used Series A proceeds to begin commercial production at a new 35,000-square-foot manufacturing facility on Chicago's South Side, launching in March 2020, with plans to commercialize food and beverage products across breakfast, lunch, dinner, and snack categories. Andrew Chung, founder of 1955 Capital, highlighted the company's compelling and efficient solution to rising global protein demand, particularly in developing markets where protein needs are becoming more acute. |
Who has invested in Nature's Fynd?
16 investors have backed Nature's Fynd across its funding rounds, including Breakthrough Energy Ventures, BAM Elevate, Danone Manifesto Venture, 1955 Capital, SoftBank Group and Blackstone.
Lead investors include SoftBank Group, Breakthrough Energy Ventures, Generation Investment Management and 1955 Capital.
Nature's Fynd Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Feb 2019 | ||
| 2 | Lead | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Mar 2020 | ||
| 1 | Participant | Feb 2019 | ||
This data is available for Pro users. Sign up to see all 16 Nature's Fynd investors. Start Free Trial | ||||
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Start Free TrialNature's Fynd Competitors
Nature's Fynd competitors include listed companies like Nomad Foods and Scandi Standard, and private ones like Believer Meats, GOOD Meat, Eat Just and Hungryroot.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $900M | - | ||
| Private | - | - | $800M | - | ||
| Private | - | - | $750M | - | ||
| Private | $175M | - | $750M | 4.3x | ||
| Publicly listed | $3.5B | $417M | $1.5B | 1.1x | ||
| Publicly listed | $1.4B | $103M | $1B | 0.8x |
Nature's Fynd Public Comps
Nature's Fynd is still privately-owned, but its public comps include Scandi Standard, Toly Bread, AGT Food and Ingredients, Cobram Estate Olives, Grupo Herdez, Armada Gida, Princes Group, BellRing Brands, Isfelag and Orion Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.4B | $103M | 0.9x | 0.8x | 12.3x | 10.3x | |||
| $812M | $123M | 1.4x | 1.4x | 9.4x | 9.2x | |||
| $59M | $56M | 18.1x | 0.5x | 18.9x | 7.5x | |||
| $191M | $7M | 7.1x | 5.8x | 183.3x | 23.6x | |||
| $2.2B | $440M | 0.7x | 0.9x | 3.6x | 5.8x | |||
| $250M | $26M | 4.3x | - | 41.7x | - | |||
| $2.5B | $200M | 0.3x | 0.3x | 3.6x | 3.3x | |||
| $2.3B | $376M | 0.9x | 0.9x | 5.7x | 7.3x | |||
This data is available for Pro users. Sign up to see all Nature's Fynd competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Nature's Fynd
| When was Nature's Fynd founded? | Nature's Fynd was founded in 2012. |
| Where is Nature's Fynd headquartered? | Nature's Fynd is headquartered in Chicago, IL, United States. |
| Is Nature's Fynd publicly listed? | No, Nature's Fynd is a private, VC-backed company. |
| What is Nature's Fynd's valuation? | Nature's Fynd was last valued at $1B in its Series C in June 2021. |
| How much funding has Nature's Fynd raised? | Nature's Fynd has raised $463M across 3 funding rounds. |
| What was Nature's Fynd's last funding round? | Nature's Fynd's last funding round was a $350M Series C in June 2021, led by SoftBank Group. |
| Who are Nature's Fynd's investors? | Nature's Fynd's investors include 1955 Capital, Breakthrough Energy Ventures, Danone Manifesto Venture, BAM Elevate, SoftBank Group, Balyasny Asset Management, Blackstone, SK Holdings, Hillhouse Investment, Archer-Daniels-Midland and 6 others. |
| Which companies are comparable to Nature's Fynd? | Companies comparable to Nature's Fynd include Believer Meats, GOOD Meat, Eat Just, Hungryroot, Nomad Foods and Scandi Standard. |
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