Prime Roots, an innovator of deli-style meats made from koji mycelium, has received $30 million in Series B funding round.

The new funding will enable Prime Roots to scale and expand to deli counters and restaurants across the US.

The round was raised by True Ventures, Pangaea Ventures, Prosus Ventures, Top Tier Capital, Diamond Edge Ventures, SOSV/IndieBio, Solasta Ventures, Monde Nissin, Alumni Ventures, Gaingels, Meach Cove Capital, The House Fund, and Hyphen Capital, bringing the total funding to approximately $50 million.

Through its proprietary fermentation and food science technology, Prime Roots says it is the “first and only” company recreating deli meats with the identical microscopic texture of meat, along with its umami taste made from plants.

Additionally, it only takes three to five days to make Prime Roots’ deli meats, compared to years for some conventional meats.

Kimberlie Le, founder and CEO of Prime Roots, said: “People are asking for sustainable meat options that taste good, make them feel good and do good with less planet impact. Prime Roots delivers on all three: taste, nutrition, and sustainability”.

She added: “This new funding is a testament to the market opportunity for the next generation of plant-based meats that meet consumer expectations while forging into old world categories like deli with disruptive innovation”.

Acclaimed chefs helped develop the product line-up – which includes cracked pepper turkey, black forest ham, hickory bacon, salami and pepperoni – to emulate traditional meats savoury taste and meaty texture. Prime Roots’ products contain no nitrates, preservatives, cholesterol, soy, or wheat, and are low in sodium.

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