Eat Just announces $25m investment from C2 Capital Partners

Eat Just, a US alternative protein producer, announced on Wednesday a $25 million investment from private equity firm C2 Capital Partners, or C2. A strategic partnership was also announced at the same time between the two enterprises.

C2 was established in 2018 to provide growth capital and operational support for companies to scale in China. The firm's anchor investor is Alibaba Group.

This is C2's first investment and partnership in the alternative protein sector and the relationship is expected to support Eat Just's go-to-market strategies, sales, branding, consumer insights, hiring and regulatory approach in China.

Eat Just launched its popular plant-based egg brand in China on e-commerce platforms like Alibaba-owned Tmall.com in 2019 and since then has been growing its brand and business in China, primarily in Shanghai.

The company has also had preliminary conversations with Chinese officials on its meat made from cells, which has won regulatory approval and is being sold in Singapore.

"We are grateful to partner with C2 to grow our business in China. Their unique market insights and know-how including logistics, branding, marketing, omni-channel sales and distribution and last-mile delivery," said Josh Tetrick, co-founder and CEO of Eat Just.

"We are excited to support alternative protein pioneer Eat Just's mission and to accelerate the growth of their innovative products and technologies in China by leveraging the unique insights and resources of the C2 or Alibaba ecosystem," said C2 managing partner Steve Lin.