Drake Invests in Faux-Chicken Maker Daring Foods
Drake wants a piece of the faux meat business.
The rapper has invested in Daring Foods Inc., a producer of plant-based chicken, according to Bloomberg. The Los Angeles-based company has raised $40 million in series B funding from investors including Drake.
The new funds will help Daring triple its retail distribution, which already includes Kroger and Costco, to over 4,500 U.S. stores this year.
The faux meat business is seeing a boom. Chicken is the most popular meat in the U.S., while the global plant-based chicken category is projected to reach $8 billion by 2030, according to Future Market Insights.
Daring was founded with the goal of removing chicken from the food system by creating “100% plant-based chicken that looks, cooks and tastes just like the animal-based counterpart.” In addition to promoting a healthier life, Daring cites that over 9 billion chickens each year are killed for human consumption.
Drake, who has said he’s a vegetarian, is the latest celebrity to back faux meat. JAY-Z has invested in plant-based meat brand Impossible Foods as well as Vegan cookie brand Partake Foods.
This is the latest business move for Drake, who recently launched a line of candles with Better World Fragrance House, calling it a “true passion project.”