CSIRO-backed plant-based mince startup V2food hits Woolworths shelves

The plant-based mince and burgers developed by the CSIRO-backed alternative protein startup v2food will start hitting the shelves in more than 600 Woolworths stores from today, less than a year after it was first released as the burger in the Hungry Jack’s Rebel Whopper.

V2food was founded last year in a collaboration between the CSIRO, its VC arm Main Sequence Ventures and Competitive Foods, the company owned by billionaire Jack Cowin of Hungry Jacks fame. Last October the company raised $35 million in a Series A round less than 10 months after launching, with its backers also including Horizons Ventures, along with the Fairfax family’s private investment vehicle Marinya Capital and Sequoia Capital China.

v2food was co-founded by former Masterfoods and PepsiCo executive Nick Hazell, is building a $20 million processing plant on the NSW-Victorian border.

The products enters an increasingly crowded space pioneered by Silicon Valley tech ventures such as Beyond Meat and Impossible foods, along with several local rivals. The Woolworths shelves already feature alt-meat products by companies such as Made with Plants, The Vegan Factor an Why Meat Co.  such as Australian Plant Proteins.

Last month v2food launched its products in Drakes supermarkets in South Australia and Queensland, and has also been supplying them via Marley Spoon and Dinnerly. The mince costs roughly the same as beef mince at $8.50 for 500g, with a four-pack of burgers priced at $9

Woolworths plant-based category manager Mauro Pisani said the supermarket giant is continuing to see growth in the plant-based category, “particularly in recent months as customers cook more at home and are looking for variety in their diet”.

V2food CEO Nick Hazell said the Woolworths deal gives them a chance to show consumers how good plant-based meat can taste, helping them make food choices that are better for the planet.

“I am incredibly proud of the scale that v2food has been able to achieve in such a short space of time, which is testament to the strength of our product. This is an exciting milestone for both us, and for Aussie dinners,” he said.

An estimated 60% of Australians and New Zealanders say they have either tried or want to try plant-based meat.

Image by Comidacomafeto from Pixabay