# Upside Foods

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

- Industry: Food
- Headquarters: Berkeley, US
- Website: www.upsidefoods.com
- Total disclosed funding: $586M
- Latest round: Series C (Mar 24, 2022)
- Investors on record: 27

## About

Upside Foods, Inc. is an innovative company that specializes in producing cultivated meat, offering a sustainable alternative to traditional animal farming through cutting-edge cellular agriculture techniques.Founded in 2015 in Berkeley, US, Upside Foods, Inc. focuses on the production of cultivated meat derived from animal cells. The company has raised USD 400 mn in its Series C funding round as of March 22, 2022, with investments from various notable firms, including Abu Dhabi Growth Fund and Temasek Holdings. CEO and co-founder Uma Valeti has a background in medicine and entrepreneurship, contributing his expertise to the company's vision.Upside Foods specializes in the production of cultivated meat, specifically poultry, such as chicken, grown in controlled environments. This process promotes a more humane and efficient alternative to traditional meat production, targeting consumers who seek sustainable options. The company has strategically launched its products in urban centers with high demand for sustainable food alternatives.Upside Foods generates revenue through direct-to-consumer sales and partnerships with retailers and food service providers. The company offers premium cultivated meat products, catering to health-conscious and environmentally aware consumers. Collaborations with high-end restaurants enhance brand visibility and credibility within the culinary space, while their B2B and direct sales model aligns with the increasing market trend towards alternative proteins.Following the USD 400 mn raised in the Series C funding round in March 2022, Upside Foods plans to utilize these resources to construct a commercial-scale manufacturing facility. This facility is expected to produce tens of millions of pounds of cultivated meat products annually, supporting the company's objective to expand its product offerings and meet growing market demands. The company aims to enter new markets, specifically targeting regions with increasing interest in sustainable food solutions.

## Funding rounds

- Series C, Mar 24, 2022, $400M — Temasek Holdings, Norwest Venture Partners, SG Growth Capital, Baillie Gifford, Cargill Inc., SOSV, Givaudan, Tyson Foods Inc., Dentsu Ventures, IndieBio, SB Investment Advisers, CPT Capital, Salt Ventures, Synthesis Capital, Abu Dhabi Growth Fund, Cercano Management
- Series B, Jan 15, 2020, $161M — Temasek Holdings, Norwest Venture Partners, Vulcan, Finistere Ventures, SoftBank Group, Cargill Inc., SOSV, Tyson Foods Inc., Future Ventures, KBW Ventures, Fifty Years, CPT Capital, Threshold Ventures
- Series A, Aug 3, 2017, $22M — Draper Fisher Jurvetson, Atomico, Cargill Inc., SOSV, KBW Ventures, Inevitable Ventures, Fifty Years, Unovis Asset Management
- Seed, Feb 4, 2016, $2.8M — SOSV, IndieBio, Fifty Years, Unovis Asset Management
- Seed, Sep 25, 2015, $0.3M — SOSV, IndieBio

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed, Series A, Series B, Series C
- IndieBio (https://capitalatlas.ai/funds/indiebio) — Seed, Series C
- Fifty Years (https://capitalatlas.ai/funds/fifty-years) — Seed, Series A, Series B
- Unovis Asset Management (https://capitalatlas.ai/funds/unovis-asset-management) — Seed, Series A
- Draper Fisher Jurvetson (https://capitalatlas.ai/funds/draper-fisher-jurvetson) — Series A
- Atomico (https://capitalatlas.ai/funds/atomico) — Series A
- Cargill Inc. — Series A, Series B, Series C
- KBW Ventures (https://capitalatlas.ai/funds/kbw-ventures) — Series A, Series B
- Inevitable Ventures (https://capitalatlas.ai/funds/inevitable-ventures) — Series A
- Temasek Holdings — Series B, Series C
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B, Series C
- Vulcan (https://capitalatlas.ai/funds/vulcan) — Series B
- Finistere Ventures (https://capitalatlas.ai/funds/finistere-ventures) — Series B
- SoftBank Group — Series B
- Tyson Foods Inc. — Series B, Series C
- Future Ventures — Series B
- CPT Capital — Series B, Series C
- Threshold Ventures (https://capitalatlas.ai/funds/threshold-ventures) — Series B
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series C
- Baillie Gifford (https://capitalatlas.ai/funds/baillie-gifford) — Series C
- Givaudan — Series C
- Dentsu Ventures (https://capitalatlas.ai/funds/dentsu-ventures) — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Salt Ventures — Series C
- Synthesis Capital — Series C
- Abu Dhabi Growth Fund — Series C
- Cercano Management (https://capitalatlas.ai/funds/cercano-management) — Series C