Drake Invests in Plant-Based Chicken Company Daring Foods
Written by SOURCE on May 18, 2021
Drake has diversified his investment portfolio to include mock meat.
According to Bloomberg, the 34-year-old Canadian rapper has purchased a stake in Daring Foods—a Los Angeles-based company that specializes in faux chicken. Drake was among those who contributed to Daring Foods’ series B funding round led by D1 Capital Partners.
“The first wave of plant-based was really focused on taste and texture, but then you had the sacrifice of other elements, like health,” said Daring Foods CEO Ross Mackay, who founded the company alongside Eliott Kessas in 2018.
The investments will reportedly help Daring Foods expand its retail distribution to more than 4,500 U.S. stores in 2021. Its products are currently available at stores like Kroger, King Soopers, Costco, and Sprouts.
During a 2018 Twitch stream, Drake told viewers he was no longer consuming meat. That same year, he posted an Instagram photo in which he seemingly described himself as “vegan.”
“I was immediately drawn to the Daring team’s mission to transform how we eat and I am excited to invest in and support a product I enjoy,” Drake told the Beet about his investment.
Though the company declined to confirm its valuation, Bloomberg reports it closed out its series A funding round with $8 million back in October. The imitation meat market has experienced a surge over the past several years, and, according to Future Market Insights, the faux chicken industry is projected to reach $8 billion by 2030.
