Drake wants a piece of the faux meat business.
The rapper has invested in Daring Foods Inc., a producer of plant-based chicken, according to Bloomberg. The Los Angeles-based company has raised $40 million in series B funding from investors including Drake.
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The new funds will help Daring triple its retail distribution, which already includes Kroger and Costco, to over 4,500 U.S. stores this year.
The faux meat business is seeing a boom. Chicken is the most popular meat in the U.S., while the global plant-based chicken category is projected to reach $8 billion by 2030, according to Future Market Insights.
Daring was founded with the goal of removing chicken from the food system by creating “100% plant-based chicken that looks, cooks and tastes just like the animal-based counterpart.” In addition to promoting a healthier life, Daring cites that over 9 billion chickens each year are killed for human consumption.
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Drake, who has said he’s a vegetarian, is the latest celebrity to back faux meat. JAY-Z has invested in plant-based meat brand Impossible Foods as well as Vegan cookie brand Partake Foods.
This is the latest business move for Drake, who recently launched a line of candles with Better World Fragrance House, calling it a “true passion project.”
