Kate Farms raises $51m in Series B round for plant-based liquid nutrition products

Kate Farms, a US-based medical nutrition company, has raised $51 million in a Series B funding round, led by Goldman Sachs, for advancing its mission of making plant-based liquid nutrition available for all in need.

Kaiser Permanente Ventures and existing individual investors also participated in the funding round.

Allison Berardo – a Vice President in Goldman Sachs’ growth equity platform GS Growth said: “We are excited to be backing the Kate Farms team as they continue to pave the way for plant-based nutrition in healthcare.

“Kate Farms’ differentiated product, strong community support from both patients and providers, and widespread distribution make them a true category leader within the overall liquid nutrition industry.”

Kate Farms is engaged in producing plant-based, organic, clinically proven formulas for tube feeding to help nourish people with chronic illnesses.

The medical nutrition company also makes nutrition shakes that are orally consumed for people having shorter-term or milder conditions that don’t need tube feeding.

Kate Farms raises $51m in Series B round for plant-based liquid nutrition products. Photo courtesy of Kate Farms.

Prepared without major allergens, the product portfolio is USDA Organic-certified, vegan, gluten-free and kosher, and is said to be accessible in more than 95% of hospitals in the US.

Kate Farms formulas and nutrition shakes are said to be prepared from easily digested organic pea protein, prebiotic soluble fiber from organic agave inulin, and a clinically effective phytonutrient blend that provides antioxidants.

Brett Matthews – Chairman and CEO of Kate Farms said: “Kate Farms’ mission has always been to make nutrition the foundation of health so that people can live their best lives. We know first-hand that plant-based nutrition can reverse disease and prevent illness and are excited to be working alongside some of the leading hospitals, doctors and dietitians to provide a higher standard of nutrition for people with medical conditions.

“Now with the addition of our new Blue-Chip investors, we will continue to accelerate our efforts to lead the plant-based revolution in healthcare to help the hundreds of millions of people who can benefit.”