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GROCERY

Mylk Guys wants to be the online vegan grocery store that non-vegans can love USA

MYLK GUYS Website: https://www.mylkguys.com


Gaurav Maken, the chief executive officer of the online vegan grocery store Mylk Guys, doesn’t think of his company as a place to just buy food.

For him, it’s a testing ground and platform for all of the new food products he expects to be developed as startup entrepreneurs and established food companies start tackling the plant-based and alternative-meat market in earnest.

The company has raised $2.5 million in support of that vision from investors, including Khosla Ventures, Pear Ventures and Fifty Years.

“Today we’re an online grocery store,” says Maken. “We are also a place for cultured meats and any genetically engineered food that allows us to scale our food production and allows us to keep feeding people.”

Maken isn’t wedded to plant-based products and envisions a virtual store stocked with products that create more sustainable consumption options for its customers. In fact, 40% of the company’s customers are not vegan, according to Maken.  

“We don’t only think about vegans. We think about sustainable food systems,” says Maken. “Our audience is an educated consumer who wants to have less of an impact from their diet… They’re just folks trying to do better with their eating habits.”

Right now, the company sells around 1,300 products through its site. And the pitch that Maken makes to suppliers is that they can access the data around their customers (unlike other online retailers, whose name rhymes with shmamazon).

“We provide analytics and a way for brands to unlock the data coming from their customers,” Maken says. “Our focus is how can we get you a personalized staple that works for you.” The company’s top sellers are vegan cheeses like Sparrow Camembert, lines of vegan jerkies and the Beyond Burger, Maken said.

“You can build brands that are successful that are $1 million brands or $5 million brands and the reason why you haven’t is because they haven’t had the platform to provide national distribution to be successful,” says Maken.  

Mylk Guys launched in 2018 and went through the Y Combinator accelerator program. Now, with its new capital, the company is focusing on expanding its sales and marketing on the East Coast, opening a new warehouse for distribution and reaching out to the vegan community on the Eastern Seaboard.

The model for selling more sustainable foods directly to the consumer has at least one precedent. Los Angeles-based Thrive Market raised $111 million in a 2016 round of funding for its online sustainable product-focused grocery store.

As recent reports indicate, the sustainable food business is only growing. Citing reports from Ecovia Intelligence, the publication Environmental Leader reported that organic food sales topped $100 billion for the first time in 2018.

Source: Mylk Guys wants to be the online vegan grocery store that non-vegans can love | TechCrunch

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Food Processing News Investing Memphis Meats

Tyson Invests in Cultured Meat Maker Memphis Meats

Tyson Invests in Cultured Meat Maker Memphis Meats

By Dave Fusaro, Editor in Chief

Jan 31, 2018

Tyson Ventures, the venture capital arm of Tyson Foods, revealed on Jan. 29 it has invested an unspecified amount in Memphis Meats, one of the startup companies creating “cultured meat,” produced directly from animal cells.

“The investment is an example of Tyson Foods’ commitment to explore innovative, new ways of meeting growing global demand for protein,” the company said in a statement.

While the terms were not disclosed, Tyson Foods investment represents a minority stake in the business. Tyson joins a diverse group of investors in Memphis Meats, including DFJ, Atomico, Cargill, Bill Gates and Richard Branson.“We’re excited about this opportunity to broaden our exposure to innovative, new ways of producing meat, especially since global protein demand has been increasing at a steady rate,” said Justin Whitmore, executive vice president of corporate strategy and chief sustainability officer of Tyson Foods. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”

FINISH READING: Tyson Invests in Cultured Meat Maker Memphis Meats

Cultured Meat Info > http://www.futurefood.org/in-vitro-meat/index_en.php

Memphis Meats > http://www.memphismeats.com/