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The Chilean company The Not Company (NotCo), from the food tech category (products prepared with technological innovation), closed the Series C Capital Financing Round, an instance in which it managed to raise US $ 85 million.
Therefore, it became the company with the largest foreign investment in Chile, according to CB Insights.
The Funding Round was led by Future Positive, Fred Blackford and Biz Stone’s, co-founder of Twitter, and the world’s leading consumer goods private equity firm, L Catterton.
Additionally, Fred Blackford and Ramiro Lauzan will join the company’s board of directors, where Nico Szekasy (Kazsek Ventures) and Elio Leoni (The Craftory) are already located.
With the closing of the aforementioned round, NotCo adds a total of US $ 118 million in capital raised, and brings new global investors to the list of sponsors that already include Bezos expedition (by Jeff Bezos), The Craftory, General Catalyst, IndieBio, Maya Capital, Humboldt Capital and the leader VC. in LATAM, Kaszek Ventures.
“This round of financing does nothing more than confirm that we are on the right track and encourage us to continue working (…),” he said in a statement. Matias Muchnick, CEO and co-founder of NotCo.
The financing obtained in the round will support the consolidation of LATAM’s operations and support an expansion in the United States.
A few months ago, the World Economic Forum chose NotCo as one of the 100 most innovative startups globally through the recognition called “The Technology Pioneers of 2020”, being the only local firm selected and one of the four chosen in Latin America .
Also in March 2019 Jeff Bezos, CEO of Amazon and richest man on the planet, had already invested in the Chilean company.
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