BOULDER — Meati Foods, the Boulder-based company developing a mushroom-based meat alternative, has added baseball Hall of Famer Derek Jeter as an investor and adviser.
Jeter joins several other prominent investors, including celebrity chef Rachael Ray; chef and founder of Momofuku and Majordomo Media, David Chang; the co-founders of restaurant chain sweetgreen, Nicolas Jammet and Jonathan Neman; and former White House senior policy adviser for nutrition Sam Kass.
“When it came to considering an investment in this industry, I had three main priorities in evaluating the food: nutrition, sustainability and taste,” Jeter said in a written statement. “Meati certainly delivers, with great quality steaks and cutlets and an institutional emphasis on high nutritional value and sustainable practices. As we look to the future, the choices we make and the impact we leave are critical, and I appreciate the way Meati has dedicated efforts to making a real difference.”
Scott Tassani, president and chief operating officer of Meati, characterized the investment from Jeter as “a huge validation of our food. Very few people are as discriminating about the quality of food that fuels their bodies. Derek has seen endless products cross his desk for partnership consideration, and we’re honored by his support and inspired by his passion for a more sustainable, equitable, nutritious food ecosystem.”
Meati is a trade name for Emergy Inc. The company’s products began being sold in retail outlets in July 2022, the same month that Meati raised a $150 million Series C round, which elevated Meati’s total fundraising beyond the quarter-billion-dollar mark, according to Crunchbase data.
Earlier this year, Meati projected that by 2025, the company’s revenues would reach $1 billion. The company recently laid off about 5% of its workforce.
Deter enjoyed a 20-year career with the New York Yankees, and has invested in other food-and-beverage startups, including Performance Kitchen, Amass and Bespoken Spirits.