No-Egg Food Products: Hampton Creek Now Has $23M to Make Eggs History
By Sounak Mukhopadhyay | February 20, 2014 11:02 AM EST
Hampton Creek Foods Inc. raised $23 million in an effort to abolish eggs in food items. The company plans to finance the food technology which is plant based. If the Series B finance gets successful in developing the technology, there will be no egg content in food items like condiments, cookie dough and muffins.
Wall Street Journal reported that, according to co-founder and Chief Executive Josh Tetrick, the company would work on abolishing chicken eggs by replacing it with non-GMO plants. However, the company does not wish to compromise on taste. The taste of their food products should be as good as that of an egg-based one, Mr Tetrick said. He also said that the company, which is based in San Francisco, had already raised $30 million for the cause with the help of industry biggies like Bill Gates (Microsoft) and Peter Thiel (Founders Fund).
The plant-based food products promise to be cheaper than their egg-based counterparts. Subsequently, they are better in terms of the health consequences of the person eating them. On the other hand, these products are far more eco-friendly as well. The very first product of the company was called as Beyond Eggs. It was an egg alternative which Hampton Creek was able to sell in bulk packs to prominent food manufacturers.
Forbes reported that Mr Tetrick spoke before boarding a plane to Hong Kong where he was going to have a meeting with the richest man in Asia, Li Ka-shing, for the very first time. Mr Tetrick, with both the richest man in the world and the richest man in Asia supporting the cause, must be more certain of the company's prospect at the moment. On the other hand, he is not willing to disclose the names of the other big shots supporting the company to take it even further ahead.
Mr Tetrick appeared proud to announce that the world was ready to strike a deal with the company.
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