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§ Private Profile · Sydney, Australia
v2food is a technology company.
v2food develops and produces plant-based meat alternatives, precisely formulated to replicate the taste and texture of conventional animal protein. The company’s product line, including mince, burgers, and schnitzels, utilizes plant proteins to deliver satisfying culinary experiences. This focus ensures consumers enjoy familiar meals while making sustainable dietary choices, offering flavorful and nutritious options.
Founded in early 2019 by Nick Hazell and Duncan Ferguson, v2food originated from a shared insight into global food sustainability. Hazell, leveraging his food science background, partnered with Ferguson to craft high-quality plant-based solutions. Their goal was to develop delicious, sustainable meat alternatives that nourish an expanding population without compromising culinary satisfaction.
The company targets a wide consumer base, encompassing plant-based adopters and those reducing meat consumption. v2food integrates its products into daily Australian diets and expands its foodservice reach. Its vision is to transform the global food system by making sustainable, plant-based protein accessible and appealing, contributing to human and planetary well-being.
v2food has raised $131.0M across 3 funding rounds.
v2food has raised $131.0M in total across 3 funding rounds.
v2food is an Australian plant-based food technology company specializing in sustainable meat alternatives that mimic the taste, texture, and appearance of animal meat using innovative plant proteins.[2][4] It develops products like burgers, sausages, mince, and crumbed chicken, targeting consumers, retailers, restaurants, and direct-to-consumer (D2C) channels through ready meals, solving the challenges of meat's environmental impact, high cost, and health concerns by offering affordable, nutritious, clean-label options.[1][2][5] With strong growth momentum, v2food has become Australia's leading plant-based meat brand, expanded into markets like Hong Kong, Japan, Singapore, and the US via the 2025 acquisition of Daring Foods in partnership with Ajinomoto, and launched D2C brands like Soulara and MACROS for ready meals across diverse cuisines.[1][3][5]
v2food was launched in 2019 through a partnership between Australia's national science agency CSIRO, Main Sequence Ventures, and Jack Cowin's Competitive Foods Australia, marking it as a science-driven startup focused on "version 2" of the food system.[2][4] Founder and initial CEO Nick Hazell, starting as a one-man team, leveraged CSIRO's expertise in food science, nutrition, and sustainability to create plant-based meats with superior texture, flavor, and affordability, addressing gaps in existing alternatives.[2] Early traction came from developing an all-Australian supply chain for legume processing, enabling restaurant and retail rollout by 2020, with government support highlighting its potential to add $6 billion to Australia's economy by 2030.[2] Under current CEO Tim York, the company has evolved through acquisitions like Soulara ready meals in 2024 and Daring Foods in 2025, scaling globally.[1][3][5]
v2food rides the global shift toward sustainable food systems amid a projected population of 10 billion, where plant-based proteins address meat production's environmental footprint through science-backed alternatives.[1][3] Its timing aligns with rising consumer demand for clean-label, affordable, health-focused options—evident in shared customer bases for plant-based ingredients and ready meals—fueled by market forces like retail growth, D2C adoption, and partnerships with giants like Ajinomoto.[1][5] By influencing the ecosystem, v2food fosters Australian innovation in legume processing and algae tech, creates jobs for farmers, and accelerates "next-gen" proteins, positioning itself as a leader in transforming food from farm-to-fork with lower emissions and broader accessibility.[2][4][6]
v2food is poised for accelerated global dominance in plant-based proteins, leveraging its 2025 Ajinomoto-Daring synergies to launch US products, expand ready meals, and scale algae innovations at industrial levels in Australia.[1][3][6] Trends like clean-label demands, high-protein health foods, and sustainable supply chains will propel growth, potentially amplifying its D2C and retail presence in the UK and beyond.[5] Its influence may evolve from Australian pioneer to worldwide platform, driving Food System v2 by making plant-based the default for taste-driven sustainability—echoing its origins as a CSIRO-backed quest for meat-like alternatives that redefine what's possible without compromise.[2][7]
v2food has raised $131.0M across 3 funding rounds. Most recently, it raised $53.0M Series B in August 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2021 | $53M Series B | Astanor Ventures | Main Sequence Ventures, ABC World Asia, China Renaissance | Announced |
| Oct 1, 2020 | $54M Series B | — | Main Sequence Ventures, David Heng, Altitude Partners, China Renaissance, Esenagro, Horizons Ventures, Marinya Capital, Novel Investments, Sequoia Capital, Temasek | Announced |
| Nov 1, 2019 | $24M Series A | Main Sequence Ventures, LI KA Shing | Hongshan Capital Group (Sequoia Capital China), Marinya Capital | Announced |
v2food has raised $131.0M in total across 3 funding rounds.
v2food's investors include Astanor Ventures, Main Sequence Ventures, ABC World Asia, China Renaissance, David Heng, Altitude Partners, Esenagro, Horizons Ventures, Marinya Capital, Novel Investments, Sequoia Capital, Temasek.