NEW YORK — Simulate, a nutrition technology startup creating plant-based chicken-style nuggets, raised $50 million in a Series B funding round led by investor Alexis Ohanian's fund Seven Seven Six.
Chris & Crystal Sacca, NOMO Ventures, McCain Foods, Imaginary Ventures, and Day One Ventures also participated in the round.
Simulate’s first product, Nuggs (also formerly the startup’s name), launched online in 2019. Featuring wheat and soy protein, the animal-free nuggets contain 13 grams of protein and 210 calories per serving. A spicy variety launched last year, followed by Discs, a plant-based chicken-style patty.
The brand has focused on expanding its retail presence in recent months. Nuggs currently are available in 5,000 retail locations, including Walmart, Target, Whole Foods Market and Sam’s Club, and are expected to reach an additional 10,000 doors by the end of the year.
Simulate will use the funds from its Series B round to triple its internal team, accelerate the development of new products and technologies, scale its manufacturing capabilities and continue increasing its retail and foodservice presence. The brand, which debuted in Canada in early June, also is eyeing expansion in international markets.
“Historically, our food system has rejected the use of technology, resulting in a system that is highly inefficient and primitive,” said Ben Pasternak, co-founder and chief executive officer of Simulate. “This new funding will be used to create and protect the intersection of technology and nutrition.”