Plantible Foods raises $35M to scale duckweed-based RuBisCO protein fivefold

What Happened

Plantible Foods secured $35 million in combined debt and equity — including a $25 million USDA-backed loan and $10 million in equity from RA Capital and existing investors — to expand its Eldorado, Texas facility and push annual RuBisCO protein output past 1,000 metric tons by early 2027. A new production strain has already lifted yields by more than 40%, and CEO Tony Martens says customer demand is already outpacing planned capacity.

Why It Matters

A 40%+ yield jump from a new production strain, before the new capacity even comes online, suggests the strain-improvement curve for duckweed RuBisCO is still steep — that's usually where a technology moves from expensive-but-interesting to genuinely cost-competitive.

A 40% yield jump before the new capacity is even running.

FET's Takeaway

USDA-backed debt alongside equity is worth noting — that combination usually means underwriters already see a credible path to revenue, not just a research bet.