Soylent, maker of the icky-tasting meal-replacement paste of the same name, has raised a fresh $20 million in funding today.
Soylent is a shake/paste (depending on your definition) that is intended to replace the need for eating healthy meals that actually taste like food. However, many have criticized Soylent on that point, instead calling it a meal supplement rather than a replacement.
The news was first announced by Andreessen Horowitz partner Chris Dixon, whose firm led the round of funding.
Rumors of Soylent raising money first popped up last week and indicated that the company was getting a $10 million round at at $100 million valuation, as VentureBeat previously reported. And while this isn’t your typical tech company (or really, much of a tech company at all by most standards), there are a few big reasons for why investors are interested in seeing Soylent become a success — chief among them being that Soylent could potentially help provide sustenance in areas of the world that don’t have enough food to feed its population. Also, a month of Soylent ($70-$85) is much cheaper than a month of buying regular groceries.