The global food and beverage industry is home to 42 unicorn startups. These companies cover everything from plant-based alternatives to on-demand delivery services.
China's Genki Forest, a sugar-free beverage maker, is valued at $15 billion. In the United States, plant-based developer Impossible Foods has reached a $7 billion valuation.
Below is the full list of 42 Food and Beverage unicorn startups at this time.
Top 10 Most Valuable Food and Beverage Unicorns
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Get the Sheet for $50Genki Forest produces a popular range of sugar-free and low-calorie beverages, from sparkling water to yogurt drinks. Their success comes from pairing health-conscious recipes with a fresh, modern brand identity that appeals to a new generation of consumers.
| Valuation | $15B |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2016 |
| Founders | Binsen Tang |
| Funding Amount | $721.3M |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Temasek Holdings, L Catterton, Gaorong Capital, HSG, Warburg Pincus |
Xingsheng Youxuan has built a leading community e-commerce platform for groceries and household essentials. Their model allows consumers to purchase a wide range of goods, from fresh food to daily necessities, through local community group orders.
| Valuation | $12B |
| Headquarters | Changshahsien, Hunan, China |
| Year Founded | 2018 |
| Founders | Lihua Yue |
| Funding Amount | $5.2B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Primavera Capital Group, Tencent, Ontario Teachers' Pension Plan, HSG, Temasek Holdings |
HeyTea operates a popular chain of modern tea shops that specialize in inventive drinks. They are best known for popularizing cheese-topped tea and creating a wide variety of fresh fruit teas.
| Valuation | $9.28B (Joined July 2019) |
| Headquarters | Shenzhen, Guangdong, China |
| Year Founded | 2012 |
| Founders | Neo Nie Yunchen, Yunqi Nie |
| Funding Amount | $595.1M |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series D |
| Top Investors | HSG, Tencent, Hillhouse Investment, Coatue, Temasek Holdings |
Wonder runs a food delivery platform that brings truck-based restaurants directly into neighborhoods to cook meals on-demand. Customers use a mobile app to order from these mobile kitchens, receiving freshly made food delivered to their door.
| Valuation | $7B (Joined May 2021) |
| Headquarters | New York, New York, United States |
| Year Founded | 2018 |
| Founders | Juan Cappello, Marc Lore |
| Funding Amount | $2.5B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series D |
| Top Investors | General Catalyst, New Enterprise Associates, Forerunner, Accel, Bain Capital Ventures |
Impossible Foods develops plant-based meat alternatives designed to replicate the experience of eating animal products. Their most recognized product is the Impossible Burger, a plant-based patty that looks, cooks, and tastes like conventional ground beef.
| Valuation | $7B (Joined May 2019) |
| Headquarters | Redwood City, California, United States |
| Year Founded | 2011 |
| Founders | Monte Casino, Patrick Brown |
| Funding Amount | $1.9B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series H |
| Top Investors | Trinity Capital, Coatue, Khosla Ventures, Temasek Holdings, Serena Ventures |
Meicai has built an e-commerce platform that sources fresh agricultural products directly from farms for restaurants across China. Their service digitizes the traditional farm-to-business supply chain, helping food businesses procure ingredients more efficiently.
| Valuation | $7B (Joined June 2016) |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2014 |
| Founders | Chuanjun Liu, Xueyin Xu |
| Funding Amount | $1.5B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series F |
| Top Investors | Hillhouse Investment, Tiger Global Management, Blue Lake Capital, Shunwei Capital, ZhenFund |
Rappi built a "super-app" that offers on-demand delivery services across Latin America, connecting users with a network of couriers. Their platform is best known for its wide range of offerings, allowing customers to order everything from restaurant meals and groceries to pharmacy items and even cash.
| Valuation | $5.25B (Joined August 2018) |
| Headquarters | Bogotá, Distrito Especial, Colombia |
| Year Founded | 2015 |
| Founders | Felipe Villamarin, Juan Pablo Ortega, Sebastian Mejia, Simon Borrero |
| Funding Amount | $2.6B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series F |
| Top Investors | Quiet Capital, Plug and Play, Endeavor Catalyst, Sequoia Capital, Andreessen Horowitz |
iFood operates a leading online platform for food ordering and delivery, connecting millions of users with a vast network of restaurants. Their service streamlines the entire process from discovery to delivery, making them a dominant force in the food tech space.
| Valuation | $5B |
| Headquarters | Osasco, Sao Paulo, Brazil |
| Year Founded | 2011 |
| Founders | Eduardo Baer, Felipe Ramos Fioravante, Gabriel Pinto, Guilherme Bonifacio, Michel Eberhardt, Patrick Sigrist |
| Funding Amount | $2.1B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series G |
| Top Investors | Innova Capital, Prosus, Movile, Just Eat Takeaway.com, Warehouse Investimentos |
Manner runs a specialty coffee chain built on the idea that great coffee should be healthy and accessible to everyone. They focus on making premium coffee an affordable, everyday experience for a wide range of customers.
| Valuation | $5B (Joined December 2020) |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2015 |
| Founders | Yulong Han |
| Funding Amount | —0 |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Venture Round |
| Top Investors | Coatue, Longzhu Capital, Capital Today, Temasek Holdings, ByteDance |
GrubMarket operates an AI-powered B2B eCommerce platform that is modernizing the American food supply chain. Their proprietary software suite gives food wholesalers and distributors tools to manage inventory, logistics, payments, and online sales.
| Valuation | $4B (Joined September 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2014 |
| Founders | Mike Xu |
| Funding Amount | $549.1M |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series G |
| Top Investors | BlackRock, Alumni Ventures, Trinity Capital, Battery Ventures, Gaingels |
The Remaining 32 Food and Beverage Unicorns
Beyond the top ten, the food and beverage scene is growing quickly around the globe. Companies are finding new ways to feed people and build strong brands.
While the United States and China lead in the number of new unicorns, great ideas are coming from everywhere. Here is a look at the other startups making a mark in the industry.