Soylent, a Los Angeles, CA-based meal replacement startup, raised $20m in Series A funding.
The round was led by Andreessen Horowitz with participation from Lerer Ventures and Index Ventures. In conjunction with the funding, Chris Dixon, general partner at Andreessen Horowitz, joined Soylent’s board.
The company intends to use the funds to expand its manufacturing and shipping capabilities as well as to continue ongoing product development efforts and biotechnology research.
Created by Robert Rhinehart, CEO, Matt Cauble, Chief Operating Officer, John Coogan, Chief Technology Officer, and David Renteln, VP Business Development & Sales, Soylent is a food product (classified as a food, not a supplement, by the FDA) designed for use as a staple meal by all adults that aims to provide “maximum nutrition with minimum effort“. It contains all of the elements of a healthy diet (protein, carbohydrates, fats, fiber, and vitamins and minerals such as potassium, iron, and calcium), with limited contribution from less desirable components such as sugars, saturated fats, or cholesterol. The Soylent recipe is based on the recommendations of the Institute of Medicine (IOM) and is approved as a food by the Food and Drug Administration (FDA). The list of ingredients includes oat flour, rice protein, omega 3 fatty acids.
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