Prime Roots Raises $30 Million To Ramp Up Its Plant-Based Deli Meat Production
Summary
Prime Roots declined to comment on its valuation or revenue.The startup was founded by Kimberlie Le and Joshua Nixon, who dropped out of Berkeley in 2017 to make meat and seafood alternatives. Prime Roots currently offers alternative cracked pepper turkey, black forest ham, hickory bacon, salami and pepperoni in deli cases across the San Francisco Bay Area.Were tackling a whole new category that no one in plant-based has gone to, says Le. Further, Prime Roots turkey and ham have no nitrates, preservatives, cholesterol, soy or wheat, and have a longer shelf life than traditional deli meats.The buzz among consumers, however, may be dying down. A survey conducted by Deloitte found that the market may be more limited than many thought, and doesnt appear to be growing: The number of consumers who sometimes buy plant-based meat for themselves or a member of their household did not increase in 2022. During that same month, the Brazilian meatpacking giant JBS announced it was closing its plant-based meat operation Planterra Foods after just two years.