W23, the venture capital and growth fund operated by Woolworths Group, has invested in Australia’s All G Foods. The multi-million dollar capital injection will allow All G to further develop its alt-protein products.
In September, the startup raised $16 million in one of the largest ever seed funding rounds by an Australian company. All G believes it is the first Australian company using precision fermentation to make dairy proteins, claiming the technology will bring “a new wave of investment and opportunity” to the country.
The startup is also seeing increasing success with its plant-based Love BUDS burger patties, which are now available at over 300 retail locations and hundreds of foodservice outlets. More products, including plant-based mince, sausages, nuggets, and bacon, will soon be added to the Love BUDS range.