In the U.S., investors are salivating over plant-based burgers. Beyond Meat has seen its market capitalization more than double to $10 billion since it went public in May. Now, the meatless meat mania is starting to spread to other parts of the world. And that’s what Brazilian entrepreneur Marcos Leta is betting on.
Mr. Leta’s startup, Fazenda Futuro—“future farm” in Portuguese—is trying to be the Beyond Meat of Latin America. The 3-month-old company, based in Rio de Janeiro, just raised $8 million in its Series A funding round led by Monashees, Brazil’s largest venture capital firm. The round valued the startup at about $100 million.