“Our ambition is to take advantage of this exciting opportunity for the Australian agriculture industry to be at the forefront of this growing market,which will help them grow and create new jobs,” he said.
“This isn’t about taking a share of the existing meat market,this is an additional opportunity to create a new market that could add $6 billion to our economy by 2030.”
Mr Cowin,whoowns the Hungry Jack’s fast food chain and has an estimated personal wealth of $4.94 billion,took a stake in v2food alongside the CSIROwhen the startup launched in 2019. He didn’t take part in the latest fund raising,but remains the biggest investor with a majority stake in the business,the company confirmed.
The meat alternative created by v2food,which uses protein extracted from legumes to make a ‘mince’ that looks,tastes and cooks like meat,is used in Hungry Jack’s Rebel Whopper burgers and sold in supermarkets across Australia.
Celebrity chef Neil Perry is also an investor and “restaurant partner” in the business,the company confirmed.