Key Takeaways
- Tender Food Inc. has secured over $11 million in Series A funding to advance its plant-based meat technology.
- The funding round was led by Rhapsody Venture Partners, with participation from existing and new investors.
- Tender’s unique technology creates hyper-realistic meat alternatives by spinning plant protein fibers.
- The company aims to scale production and commercialize its products, competing with traditional meat on price and quality.
- Tender has expanded its leadership team by adding Mike Messersmith, former North American President of Oatly, to its board of directors.
Tender Food Inc. Secures $11 Million Series A Funding to Revolutionize Plant-Based Meat Production
Tender Food Inc., a food technology startup based in Somerville, Massachusetts, has closed over $11 million in Series A funding. The funding round was led by Rhapsody Venture Partners, with participation from existing investors Lowercarbon Capital and Safar Partners and new investors Claridge Partners and Nor’easter Ventures. This additional capital will enable Tender to further its mission of transforming how meat is produced and consumed.
Innovative Technology for Realistic Meat Alternatives
Tender’s innovative approach sets it apart from other plant-based meat products such as Impossible Foods or Beyond Meat. The company’s patented technology spins plant protein fibers, similar to how cotton candy is made, to create structured cuts of meat. This process results in hyper-realistic, nutritious, and affordable products with simple ingredients, available in various formats including pulled pork, chicken breast, seafood, and steak.
Christophe Chantre, co-founder and CEO of Tender, highlighted the shortcomings of current plant-based meat options: “Consumers are largely disappointed with plant-based meat products in the market—they’re too expensive, they don’t taste good, and are mostly limited to burgers and sausages with long, unrecognizable ingredient lists. We need new technologies to address these challenges and drive meaningful adoption in this category, which is crucial for decarbonizing our food system. Our technology allows us to create healthy products that taste great, have the structure and feel of animal meat and are much cheaper to produce.”
Market Presence and Partnerships
Tender has already introduced its early products, such as beef short rib, pulled pork, chicken breast, and crab, at various restaurants and universities in the Boston area. The company’s latest partnership with Clover Food Lab brought Tender products to all Clover locations in May 2024.
Chris Anderson, Senior Vice President at Clover, expressed enthusiasm about the partnership: “We’re a popular vegetarian chain, so, as you can imagine, we try a lot of new plant-based products. Tender’s stood out from the start—it’s innovative, it’s tasty, it’s a great addition to our grain bowls and salads. And most importantly, we’re hearing lots of positive feedback from our customers—90% of whom are meat-eaters!”
Scaling Up and Future Plans
With the new funding, Tender aims to scale up its production capacity at a new facility, targeting millions of pounds and commercializing its products on a larger scale. The company is focused on lowering production costs to compete directly with traditional animal meat.
“Our production costs are already low today and we have barely started scaling,” said Chantre. “Offering products that compete with animal meat on price is critical for this industry to grow. Tender’s technology solves this major challenge and will unlock tremendous industry growth.”
Image provided by Tender Food
