Hampton Creek, the San Francisco-based startup that’s creating a plant-based alternative to eggs, is in the middle of raising $US50 million at a more than $US300 million valuation, according to The Wall Street Journal, citing sources.
Earlier this year, the company raised $US23 million in a series B round. In all, the company has raised around $US30 million.
Hampton Creek makes mayo and cookie dough that are egg-free, and sells them directly to grocery stores, such as Whole Foods. The company says that its product is 48% cheaper than using chicken eggs.
The company also announced that its most-recent big hire, Ali Partovi — who’s also an investor — will be leaving the company.
Sources told Re/code that Vy Capital is leading the latest round, but other investors are involved as well.
Previous investors include Horizon Ventures, Khosla Ventures, and Founders Fund.