Ben Pasternak, Founder and CEO of SIMULATE
, has just secured a massive $50 million Series B funding round to scale his vision of a meat-free future. The announcement, made from New York , pushes the nutrition tech startup's valuation past the $250 million mark. It's a bold bet on the idea that plant-based meat can be iterated like software, moving beyond traditional food production into a high-tech engineering play.Here's the thing: this isn't your typical veggie burger story. While most companies in this space talk about "farm-to-table," SIMULATE talks about "versions" and "updates." The funding was led by Seven Seven Six, the venture capital firm steered by Alexis Ohanian (the co-founder of Reddit). Ohanian isn't just writing a check; he's joining the board of directors, signaling a deep commitment to what he calls a commitment to rapid product iteration.
- Series B Funding: $50 million
- Current Valuation: Over $250 million
- Total Capital Raised: $60+ million
- Retail Reach: 5,000+ locations (Targeting 10,000 by year-end)
- Core Products: NUGGS and DISCS
The "Tesla of Chicken" Strategy
Turns out, Pasternak started this journey in 2018 when he was only 19 years old. With a background in app development, he decided to treat food like code. The primary product, NUGGS, isn't just a snack; it's a prototype that the company constantly tweaks based on customer feedback. This "software update" model for food is why they've branded themselves as the "Tesla of Chicken." (Though some might find their "Kill You Slower" slogan a bit too edgy for the dinner table).
The company also rolls out DISCS, which are plant-based patty alternatives. Interestingly, SIMULATE doesn't own traditional factories. Instead, they leverage ghost kitchens to keep things lean and agile. This strategy allowed them to scale rapidly, moving from a niche startup to being available in over 5,000 retail stores across the US. And they aren't stopping there; the funding announcement coincided with a strategic launch into the Canadian market.
A Heavy-Hitting Investor Circle
The Series B round wasn't just Ohanian. The cap table reads like a "who's who" of Silicon Valley and entertainment. Venture capitalists Chris Sacca and Crystal Sacca joined the fray, alongside NOMO Ventures and Day One Ventures. But the real celebrity spark came later when Marcy Venture Partners (the fund backed by Jay-Z) stepped in, accompanied by Roc Nation's Jay Brown and Larry Marus.
This level of backing is a far cry from the company's early days. Back in 2019, McCain Foods led a modest $7 million seed round. McCain isn't just an investor; they serve as the manufacturer for SIMULATE, creating a symbiotic relationship between a legacy food giant and a disruptive tech startup. Other early backers included former Whole Foods CEO Walter Robb and the founder of Casper, Neil Parikh.
Scaling the Engineering Team
So, where is the $50 million actually going? Pasternak isn't just buying more marketing. He's planning to triple the headcount from 20 employees to 50 by 2022. But here's the twist: over half of those new hires will be scientists and engineers. In Pasternak's mind, the secret to a better nugget isn't a better recipe—it's better engineering.
The roadmap for the near future is aggressive. The company is prepping to enter the fast-food and restaurant sectors, moving beyond the grocery aisle. Their product pipeline is also expanding. Keep an eye out for "DOGGS," a plant-based hotdog scheduled for a Q4 2020 launch, and a line of TENDERS that are currently in the lab.
Why This Matters for the Plant-Based Market
The ripple effects of this funding are significant. We're seeing a shift where plant-based meat is moving from a "health food" niche into a high-growth tech sector. By focusing on the "iteration" of flavor and texture, SIMULATE is trying to solve the one thing that keeps many meat-eaters away: the taste gap. If they can truly "update" a nugget to taste exactly like the real thing, they don't just have a product—they have a monopoly on cravings.
Oddly enough, the success of SIMULATE reflects a broader trend of Gen Z entrepreneurs disrupting traditional industries. Pasternak's approach ignores the centuries-old rules of food science in favor of a rapid-fire, data-driven cycle. While some critics might call it hype, the $250 million valuation suggests that investors are buying into the vision.
Frequently Asked Questions
What makes SIMULATE different from other plant-based meat companies?
Unlike traditional food companies, SIMULATE operates like a tech startup. They use a "software update" model, meaning they continuously iterate and improve their recipes for NUGGS and DISCS based on direct customer data and feedback rather than relying on static recipes.
Who are the key investors in the Series B round?
The round was led by Alexis Ohanian's Seven Seven Six. Other notable participants include Marcy Venture Partners (Jay-Z), the Sacca family, and McCain Foods, who also handle the manufacturing of the products.
Where can you buy NUGGS right now?
NUGGS are currently available in over 5,000 retail locations across the United States. They are also distributed through mail-order channels and have recently expanded their availability into the Canadian market.
What new products is SIMULATE planning to launch?
The company is expanding its portfolio beyond nuggets and patties. They are scheduled to launch "DOGGS" (plant-based hotdogs) in the fourth quarter of 2020 and are currently developing plant-based TENDERS.
How will the $50 million funding be used?
The funds are earmarked for tripling the employee count to 50 by 2022, with a heavy focus on hiring scientists and engineers. Additionally, the capital will support international expansion and a move into fast-food and restaurant distribution.