It’s not just adults who are going plant based. Now, babies are too.
What’s happening:
- Israeli plant based nutrition company Else Nutrition (TSXV: BABY) has raised $5M CAD in a new financing round
- The new capital will go towards advancing the research and development of their proprietary plant based, non-soy formula for infants and children
The big idea:
- Many dairy based formulas for babies are highly processed and contain unhealthy hormones and pesticides
- By using plant based ingredients as an input for baby formula, there is a large reduction in chemical processing
- Further, whole food based ingredients keep proteins intact by staying in their natural composition and not being altered by being isolated chemically
Going deeper:
- Similar to many highly processed foods that rely on animal agriculture, dairy based infant formula is a large emitter of carbon
By the numbers:
- Else Nutrition is currently available in more than 13,000 stores globally
- Last year Else saw sales of approximately $8M CAD
