Drake-Backed Daring Foods Gets $65 Million From Steve Aoki, Naomi Osaka and More

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Drake-Backed Daring Foods Gets $65 Million From Steve Aoki, Naomi Osaka and More

Backed by pop star Drake, Daring Foods raised $65 million in new funding from DJ Steve Aoki, tennis star Naomi Osaka and others, the faux-chicken company told dot.LA on Tuesday.


Founders Fund led the round. NFL quarterback Cameron Newton, Tiger Global founder Chase Coleman and D1 Capital also participated.

The raise marks Daring Foods' third cash injection this year, with more than $120 million secured to date. The Los Angeles-based firm sells soy-based, chicken-inspired "pieces" -- including cajun and breaded varieties -- through major stores and offers a direct-to-consumer subscription service on its website.

Daring Foods called itself "one of a handful of companies to raise Series A, B and C in a single year." That's no coincidence.

The accelerated fundraising comes at a critical time for Daring Foods. Its rivals, El Segundo-based Beyond Meat and Valley-based Impossible Foods, are now moving into plant-based poultry, a market that already featured mainstays like Morningstar Farms.

Perhaps to head off their advances, Daring Foods also revealed Tuesday that its offerings are coming to 3,000 Walmart stores across the U.S. Its products had already launched in Whole Foods, Kroger, Sprouts and other retailers.

Drake, Osaka and Daring Foods' other celebrity backers aren't alone in funding plant-based ventures. Stars such as Snoop Dogg, Post Malone, Owen Wilson and Woody Harrelson have also joined in on the trend. Plant-based foods flew off shelves during the pandemic, and demand is expected to surge in the coming years.

Originally conceived in the United Kingdom in 2018, co-founders Ross Mackay and Eliott Kessas relocated the company to Los Angeles during the pandemic, joining Beyond Meat and other plant-based startups that have found a receptive market in the region.

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Secures $30 Million in Funding to Continue Space Robotics Developments

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Secures $30 Million in Funding to Continue Space Robotics Developments
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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