aring, which seeks to remove chicken from the food system, has announced a Series B funding round of $40 million just a year after launching.
It was led by D1 Capital Partners. Canadian rapper Drake joined the round, along with existing investors Maveron and Palm Tree Crew.
“The brand has a significant growth runway ahead of it as the chicken market remains under penetrated by plant-based products,” said Michael Tully of D1 Capital Partners.
Daring will use this round of funding to triple its internal team by the end of 2021, dramatically scale its rapid retail and foodservice growth, future innovation and product development.
“I was immediately drawn to the Daring team’s mission to transform how we eat and I am excited to invest in a product I enjoy,” said Drake.
Since the brand’s $8 million Series A round in October 2020, Daring has added more than 1000 retail locations, including Costco, Wegmans, Kroger and Imperfect Foods. Daring will add several nationwide retailers to its roster in the coming months, increasing accessibility for consumers through brick-and-mortar and direct to consumer offerings.
“This is an investment in the future of food,” said Daring’s CEO and Co-Founder, Ross Mackay.