# MyForest Foods Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/myforest-foods

- Industry: Food
- Headquarters: New York, US
- Website: www.myforestfoods.com
- Total disclosed funding: $47M
- Latest round: Series A (Apr 15, 2021)
- Investors on record: 10

## About

MyForest Foods Co. is a US-based company specializing in innovative plant-based food solutions, primarily known for its MyBacon product—a bacon alternative made from oyster mushroom mycelium. Founded in 2020 in New York, US, MyForest Foods Co. focuses on creating sustainable food alternatives. The company has successfully completed 4 deals, with its most recent funding round, a Series A raising USD 15.25 mn, led by Ecovative Design LLC on May 31, 2023. The total amount raised by the company is USD 15.25 mn, and its current valuation is USD 135.29 mn. Gavin McIntyre serves as the founder, while Greg Shewchuk and Sascha de Jong hold leadership positions.MyForest Foods specializes in innovative food solutions, with its primary offering being MyBacon, a plant-based bacon alternative made from farm-grown oyster mushroom mycelium. This proprietary product is designed to meet the growing demand for ethical and sustainable food options, appealing to health-conscious consumers and those seeking cruelty-free alternatives. MyBacon has gained traction among vegetarians, vegans, and flexitarians looking to reduce meat consumption. The company markets its products through partnerships with platforms like Good Eggs, Purple Carrot, and Hungryroot, ensuring accessibility in the US and Canada. MyForest Foods also collaborates with culinary professionals and home cooks to provide recipe inspiration for enhanced product usage.MyForest Foods generates revenue primarily through the sale of its MyBacon product line, utilizing a direct-to-consumer model and partnerships with retailers and meal kit services. The sales structure includes bulk purchases for retail distribution and individual sales via online platforms, with customers able to subscribe for regular deliveries or make one-time purchases. MyBacon has established itself as a significant player in the meatless market, attracting a diverse clientele keen on sustainable and health-conscious food choices.In May 2023, MyForest Foods Co. secured USD 15.25 mn in Series A funding, part of a larger USD 55 mn round led by Ecovative Design LLC. The funding will be allocated towards business growth and expanding food service operations along the Eastern Seaboard, including New York City. The company is also working on upcoming product releases to enhance its market offerings.

## Funding rounds

- Series A, Apr 15, 2021, $40M — Viking Global Investors, Whole Foods Market, Inc., Senator Investment Group, Applegate, Stray Dog Capital, AIIM Partners, Standard Investments, FootPrint Coalition, Stonyfield Farm, Inc.
- Seed, Nov 3, 2020, $7M — Stray Dog Capital, Unovis Asset Management

## Investors

- Stray Dog Capital (https://capitalatlas.ai/funds/stray-dog-capital) — Seed, Series A
- Unovis Asset Management (https://capitalatlas.ai/funds/unovis-asset-management) — Seed
- Viking Global Investors (https://capitalatlas.ai/funds/viking-global-investors) — Series A
- Whole Foods Market, Inc. — Series A
- Senator Investment Group (https://capitalatlas.ai/funds/senator-investment-group) — Series A
- Applegate — Series A
- AIIM Partners (https://capitalatlas.ai/funds/aiim-partners) — Series A
- Standard Investments (https://capitalatlas.ai/funds/standard-investments) — Series A
- FootPrint Coalition (https://capitalatlas.ai/funds/footprint-coalition) — Series A
- Stonyfield Farm, Inc. — Series A