TMRW Foods closes $2M new financing

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By CPE News

CPE News Brief (7.7.2022) – TMRW Foods has raised $2 million in new funding from TELUS Pollinator Fund for Good, Philip Donne (former CEO of Kellogg’s Canada) and existing stakeholders.

Led by co-founder 7 CEO Dean Blignaut, Port Coquitlam, BC based TMRW Foods is a Canadian producer of plant-based proteins. TMRW products can be found in retailers across Canada, and the USA.

TMRW will launch eight products across the United States with Sprouts Farmers Market in August this year, increasing distribution in North America to more than 1,500 retail locations and 6,000 distribution points.

In August 2021, TMRW Foods announced $2.6 million seed funding round with investors including Greg Blake (Daiya co-founder), Richard Cooperstein (CEO & Senior Managing Partner of Media Investment Group, former Senior Executive at Disney’s Worldwide Television Group, Paramount Pictures & Facebook), Eric Patel (Director at Fresh Prep, former Director at Smart Sweets, former Board Chairman at Daiya), and the Milne Group (owners of Virtuous Pie, Mila and Harken Coffee), who have increased their stake in the company.

photo credit: TMRW Foods

News Release

Plant-based food innovation company, TMRW Foods, raises C$2 million and prepares for North American launch with Sprouts Farmers Market

VANCOUVER, BC, July 7, 2022 /CNW/ – TMRW Foods, the Canadian plant-based food innovation company, announced today the closing of another round of financing resulting in $2M in capital raised to support the company’s rapid growth across North America.

Investors for this fundraising round include the TELUS Pollinator Fund for Good, Philip Donne (former CEO of Kellogg’s Canada) and further investment from existing stakeholders.

“We feel tremendously fortunate to be able to surround ourselves with values aligned, impact driven investors that fuel our ability to execute on our mission,” said Dean Blignaut, Co-Founder and CEO of TMRW. “TMRW believes the key to plant-based success is to relentlessly pursue the creation of plant-proteins that are more flavorful, more nutritious and more accessible than those in existence today. Everything we do is with that goal in mind. It’s only through meeting the fundamental needs and expectations of the masses that we will create a solution that leads to a more sustainable food system.”

TMRW will launch eight products across the United States with Sprouts Farmers Market in August this year. This will increase distribution in North America to more than 1,500 retail locations and 6,000 distribution points.

“It’s surreal. Since the end of last year, we have vertically integrated our protein production, doubled the size of our facility and quadrupled our distribution. To launch with Sprouts is indescribably gratifying. It’s an electric feeling,” added Blignaut.

About TMRW Foods

TMRW Foods is a Canadian producer of plant-based proteins, reimagining the endless ways in which plant-protein can feed the planet – today and tomorrow. They produce out of their SQF certified facility in British Columbia, Canada. TMRW products can be found in retailers across Canada, and the USA.

For more information, visit tmrwfoods.com

SOURCE TMRW Foods Inc.

For further information: info@tmrwfoods.com, www.tmrwfoods.com