Drake has purchased a stake in an LA-based company called Daring Foods that produces plant-based chicken, as reported by Bloomberg. Daring is a Los Angeles-based food company that specializes in mock chicken. The rapper is among those who have invested in a round of funding 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 Ross Mackay, a co-founder who serves as Daring’s chief executive officer. Amid the faux meat rise, the company has raised $40 million from investors, such as the entertainer, and it’s projected to reach $8 billion by 2030.
While faux beef has demanded much of the attention in the imitation meat category, chicken is the most popular meat in the U.S., making it an obvious target for plant-based manufacturers. The global plant-based chicken category is projected to reach US$8 billion by 2030, according to an estimate from Future Market Insights.
Drake is a vegetarian, who adds to the growing list of celebrities backing faux meat that includes Serena Williams and Jay-Z. “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,” noted ‘The Scorpian’ rapper about his investment. It’s been about three years since fans heard Drake announce he was quitting meat in a Twitch stream.
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Daring is expanding in an increasingly crowded field. Kellogg’s recently debuted two “Chik’n Tenders” products. Nestle’s Sweet Earth brand includes multiple faux chicken items and has distribution in more than 26,000 stores. Livekindly Collective, a group of plant-based protein brands that includes two “chicken” options in the U.S. Category leader Beyond Meat has also been telling customers that it will launch chicken this summer.