LA food tech startup Soylent announced a $50 million Series B on Thursday, bringing its total funding to $74.5 million.
The funding comes after a strong several months for the startup. In the first quarter of 2017, the company's net revenue nearly doubled, compared with the same quarter of 2016.
Launched in 2013, Soylent started introducing new varieties of its nutritionally complete meal replacements in 2015, including a ready-to-drink meal, a nutrition bar and a number of new flavors.
The round was led by GV (formerly known as Google Ventures), with participation from Tao Capital Partners and existing investors Lerer Hippeau Ventures and Andreessen Horowitz.
"We're thrilled to add GV to Soylent's community of investors, customers, and team members who see the importance of developing healthy, functional foods," said founder and CEO Rob Rhinehart in a statement. "This funding will enable us to expand our current product offerings, support our expansion efforts into traditional retail and international territories, and further our goal of bringing Soylent products to people around the world."
Soylent's 2013 launch came on the tail end of a $3 million crowdfunding campaign — the largest to date for a food project. GV general partner Andy Wheeler will join Soylent's board of directors.
Images via social media.
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