The Jackfruit Company, a leading innovator in plant-based meat alternatives, has raised an additional $5 million in an extension to its Series B funding round. This latest investment brings the company’s total Series B funding to $33 million, solidifying its position as the most well-funded player in the jackfruit protein space. The company, which produces jackfruit-based meat substitutes under its brands, Jack & Annie’s and The Jackfruit Company, is strategically expanding its operations as the demand for fiber-packed, plant-based options continues to grow.
Expanding Reach and Product Development
The $5 million investment round was led by The Jackfruit Company’s existing investors—InvestEco, Creadev, and Grosvenor Food & AgTech—all of whom remain committed to supporting the company’s growth trajectory. Annie Ryu, founder and CEO of The Jackfruit Company, emphasized that the funds will be used to accelerate the company’s expansion across retail, foodservice, and industrial segments.
“We are expanding our sales force to accelerate growth,” Ryu told Green Queen. “At the same time, we’re investing in product development and optimization across multiple channels. Our goal is to continue offering the delicious, healthy foods consumers have come to love.”
The company has been gaining traction not only through its product offerings but also by making inroads into diverse market segments. The Jackfruit Company provides meal starters and finished products such as burgers and sausages, made from the versatile jackfruit. Known for its meaty texture and nutritional benefits, jackfruit offers a clean and straightforward ingredient list compared to many other plant-based meat alternatives.
A Focus on Whole Foods and Clean Labels
In an industry where ingredient lists can often be lengthy and complex, The Jackfruit Company has focused on simplicity. Its products are made from jackfruit, a tropical fruit that has a naturally meaty texture when cooked, allowing the company to maintain a short and clean ingredient list. Ryu explained that this aligns with consumer demand for healthier, whole-food options.
“Consumers are looking for foods that help them live healthier and longer,” Ryu said. “The food industry can be confusing, but one thing is clear: eating more fruits and vegetables is good for you. Whole-food options like ours are trusted because they come from natural ingredients.”
Under the Jack & Annie’s label, the company offers a wide range of products, including pork, chicken, and beef analogues. These products, such as tenders, patties, nuggets, sausages, meatballs, and shredded steak, are available in over 6,000 retail stores across the U.S. and Canada, including major chains like Whole Foods.
Strategic Partnerships and Foodservice Expansion
While the company’s consumer brand, Jack & Annie’s, continues to grow in the retail space, The Jackfruit Company has also made significant strides in foodservice. One of its most notable partnerships is with Smashburger, a fast-casual restaurant chain. Earlier this year, Smashburger added a jackfruit patty to its permanent menu across all 235 locations, a move that highlights the growing acceptance of plant-based meat alternatives in mainstream dining.
This partnership represents a pivotal moment for The Jackfruit Company, signaling its ability to cater to both individual consumers and larger foodservice operators. The company has focused on offering seasoned jackfruit ingredients, such as BBQ and Tex Mex, that appeal to B2B clients. This allows restaurants to incorporate plant-based options into their menus easily, without compromising flavor or texture.
| Product | Channel | Availability |
|---|---|---|
| Jack & Annie’s (consumer brand) | Retail | 6,000+ U.S. and Canada stores |
| Seasoned Jackfruit (B2B focus) | Foodservice | Available in restaurant chains |
Navigating the Plant-Based Meat Industry’s Challenges
Despite its successes, The Jackfruit Company is navigating a challenging environment for plant-based meat analogues. In recent years, the plant-based food sector has seen a decline in sales after a period of rapid growth, as some consumers shift away from processed meat alternatives. However, Ryu is confident that the company’s focus on clean, whole-food ingredients will allow it to continue growing despite these broader industry challenges.
“As we see consolidation across the plant-based industry, The Jackfruit Company is positioned for strong growth,” Ryu said. “Our products not only meet consumer demand for healthy, sustainable foods, but they also offer a unique, naturally meaty alternative that’s versatile and easy to incorporate into meals.”
This confidence is bolstered by the fact that The Jackfruit Company has managed to secure significant investment at a time when many plant-based startups are facing financial challenges. The latest funding round is a testament to investor confidence in the company’s long-term potential, particularly as it continues to expand into new markets and product categories.
A Mission Rooted in Sustainability and Innovation
The Jackfruit Company was originally founded in 2011 with a mission to help farmers in India find a sustainable market for jackfruit, a crop that was often wasted. Over the years, the company has evolved to become a leader in the plant-based meat alternative industry, offering a solution that is both sustainable and nutritious.
By using jackfruit as the base for its products, the company is able to provide a plant-based alternative that is less resource-intensive than traditional meat production. This aligns with broader trends toward sustainability in the food industry, as consumers increasingly seek out environmentally friendly food options.
As The Jackfruit Company moves forward, it is poised to continue its growth and solidify its foothold in the plant-based sector. With its commitment to innovation, clean ingredients, and sustainable practices, the company is well-positioned to meet the evolving demands of health-conscious consumers and businesses alike.
