This same year could see the light of new products from I missed you Chilean NotCo, the startup that since 2016 has been developing plant-based foods such as meat, milk, mayonnaise, ice cream, and more.
In an exclusive interview with Forbes MexicoThe company’s CEO, Matthias Mochnik, expects the release to be one of them vegetarian marine product.
“We are going to launch about 4 more products, one of which is very focused on the sea and the ocean. It is a very important place for the world and it has been so destroyed that we decided to deliver what we had in mind for the next two or three years,” says Muchnick, who prefers not to disclose For more details about product features or possible release dates.
NotCo CEO predicts that this year not only will new products be launched from the startup, but the world’s first vegan product will also be launched. joint project This past February 22 they announced with Kraft Heinz, the food industry giant associated with billionaire Warren Buffet.
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“We will launch it this year, and we are in talks about where and how to launch it. We don’t want to expect anything so as not to alert any competitor,” explains Muchnick, who on the other hand confirms that the alliance with Kraft Heinz will serve as a springboard for NotCo products to reach a global scale , which they already have today.
The joint project It’s called The Kraft Heinz NotCompany and according to Matthias Mochnik it will think like a company, but it will operate as a startup. It will have its commercial office at Kraft Heinz’s headquarters in Chicago and research and development offices at NotCo’s headquarters in San Francisco.
To maintain the startup’s core, he explains, Kraft Heinz NotCompany will take over as CEO Lucho López-May, who even before this new assignment was NotCo’s CEO in North America. However, he asserts, “Miguel Patricio (CEO of Kraft Heinz) comes to lead Kraft Heinz with a disruptive mindset and startup“.
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As has happened so far with NotCo, the person responsible for finding the secret recipe for the new products will be Giuseppe’s algorithm, which traverses millions of possible combinations of plants to create flavors, aromas and textures similar to animal products. Through this work, the startup has been awarded 10 US patents related to artificial intelligence, machine learning and food science.
What will happen to NotCo after this alliance? Matthias Mochnik was asked, and he replied: “NotCo remains the priority, we will continue to grow as planned and joint project It’s for us a starting point: to appear not only in NotCo products but appear as smart, like Intel Inside for other products, for other brands is really exceptional.”
NotCo currently has a presence in 11 countries, including Canada, the United States, Mexico, Colombia, Brazil and Argentina. After four investment rounds that raised $365 million over six years, Foodtech has achieved unicorn stature, worth $1.5 billion.
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Among the NotCo investors are from Kaszek Ventures Fund, founder of Latin American unicorns and founders of Mercado Libre, to Amazon founder Jeff Bezos, Formula 1 driver Lewis Hamilton or tennis player Roger Federer.
NotCo, without Obsession with being a unicorn
Although NotCo is considered a unicorn, its CEO is not obsessed with this category. “Today there is a lot of talk about valuation, there is a lot of talk about unicorns, we are obsessed with it and it is not true. Being a unicorn and having a high rating is the result of good work, good execution, good numbers, good results and consistent vision.”
“I think the press and everyone else He hits Being a unicorn has made many startups say “I want to be a unicorn” which is not true. It’s about making a difference in the world, and if the market values me at a billion dollars, that’s excellent, but it can’t be an obsession when one leaves,” thinks Matthias.
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In contrast to the great year 2021 witnessed by Latin American startups, Matias Mochnik expects 2022 to be complicated by the war initiated by Russia against Ukraine and the resulting financial and economic concerns.
Another phenomenon is coming, and it may be a little more difficult. I think it will be more difficult to raise money this year because of the geopolitical environment with Russia and Ukraine. There are a lot of nerves. We won’t see the same valuations or tours we saw last year, there’s a lot of caution in how they invest, but I’m still surprised when I constantly hear Andreessen Horowitz, Sequoia, Tiger, looking at Latin America” Matthias Mochnik concludes with him Forbes Mexico.
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