Plant-based food options are becoming more popular in restaurants and grocery stores. The world's first plant-based sunny-side-up and poached eggs are about to launch in the U.S. this year, according to Egg CEO Eran Groner.
The global plant-based eggs market is expected to grow by 27% a year over the next decade to reach just under $800 million in value.
Groner founded the company in 2019. He worked in agriculture and food tech for 20 years. Groner said he felt there was whitespace in the plant-based egg and seafood space and began looking at the problems, especially the amount of water needed to produce each poultry egg.
There was a case of a person testing positive for bird flu recorded by the CDC in April. For a long time, it was thought that the disease could not be transferred to humans. The only way to solve those problems is to remove the animals from the building.
Perfeggt brings in first capital to shell out plant-based egg alternative
Yo! The Egg team has an image credit. An egg.
He met Yosefa Ben Cohen, a long-time vegan and chef who was working on solutions for restaurants, and the idea for Yo! The egg came about.
Most of the startups tackling this space, including Perfeggt, Simply Eggless and Eat Just, have started with powdered and liquid varieties. Egg has developed an egg white and running yolk for consumers who like the taste and texture of the whole egg but prefer a more sustainable and cholesterol-free option.
Yo! The breakfast chain in Israel serves mostly poultry eggs.
We could have chosen a vegan joint and played it safe, but we chose a hardcore egg place that served breakfast of all kinds. We've been there since December, and we've also reached some major tech companies, such as Facebook, and some hotels and food service operations.
The company will debut its products at the National Restaurant Association trade show in Chicago next week after receiving $5 million in seed funding.
Groner expects to have Yo! after the trade show. Egg products will be on the menu by the end of the year. The company will use the funding to scale the sunny-side-up and poached products and to start working on hard-boiled eggs, scrambled eggs and baking solutions for the household.
The company has grown from three full-time employees to 10 over the past couple of months, Groner said.
Groner says that scaling is a challenge with plant-based products. Egg has faced challenges. The company had to engineer its own equipment, which took a long time, and has already developed a third prototype. He thinks the final design will produce 50,000 eggs per day, up from the current 6,000.
The world's largest egg company is not an egg alternative company, but the largest egg company without using chickens, according to Groner. We wanted to raise venture capital because of that.
The seed round was co-led by NFX and Stray Dog Capital.
With 95 billion eggs consumed every year in the US, and each egg requiring 53 gallons of water to produce, we need a better solution. We knew that this company could change the world. We support their work and are excited to see their eggs on the menu.
14 climate tech investors share their H1 2022 strategies
All Rights Reserved © 2024
