Bezos-Backed Vegan Milk Startup in Chile Eyes ‘Unicorn’ Status
- NotCo says 2021 sales to increase fourfold, volumes fivefold
- Startup rides popularity of $35 billion alt-protein market
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The explosion in global sales of plant-based foods has a Chilean startup backed by Amazon.com Inc founder Jeff Bezos targeting a record valuation for the company.
NotCo SpA., maker of the vegan NotMilks sold at Amazon’s Whole Foods stores in the U.S., is determined to reach so-called “unicorn” status in its next funding round, or an estimated value of $1 billion. It’s citing a 2021 outlook of a fourfold increase in sales and a fivefold jump in volumes as the basis for what could be a tripling of its current worth, which some reports have put at more than $300 million.