Alternative protein start-up All G Foods has secured a multimillion-dollar investment from Woolworths Group’s venture capital and growth fund, W23.
Having already secured $16m seed capital in September, All G Foods believes it will be the first Australian company using a technology called precision fermentation to develop dairy proteins that can be included in a range of dairy products.
Jan Pacas, Founder and CEO of All G Foods, said the W23 investment provides an incredible opportunity to partner with Australia’s most prominent leader in the retail landscape.
“Our ambition is to make great tasting and nutritious products that meet the growing consumer demand. As we rapidly scale, it’s important for us to partner with a VC that has unparalleled access to distribution, assets and capabilities. W23 has established itself as a leading strategic VC in Australia, and we’re delighted to call them a partner.”
Ingrid Maes, Managing Director at W23, said they are interested in backing the next wave of food innovators in Australia.
“All G Foods is at the forefront of new alternative protein production techniques and is setting out to build a global business that can help feed a growing population. We’re excited about the potential of All G Foods’ emerging technology and ambitious growth plans. We look forward to partnering with All G Foods and helping them with their journey.”
All G Foods launched BUDS Burger patties at over 300 hundred retail outlets in September 2021 and have expanded rapidly across the food service landscape, with BUDS plant-based Burgers now available at hundreds of retail food stores.
Pacas said that on top the company’s growing investor line up, it has partnerships with leading global organisations and have put together a science and technology team representing the best in their fields globally.
“At All G we are passionate about Australian made and have joined the global innovation linkage project under Sydney University’s lead to identify the future plant-based proteins of Australia, so local farmers can be a part of this growing opportunity.”
There is currently a range of additional alternative protein products in the pipeline for All G, including plant-based mince, sausages, nuggets, and bacon, which are expected to become available over the next few months.