Sundial Foods Closes Down, Sells Intellectual Property to European Food Company

Sundial Foods, a California-based startup known for its innovative protein-structuring technique for meat alternatives, has officially shut down. However, the company has made a strategic move by selling its intellectual property to a large food company based in Europe.

Founded in 2019 by Jessica Schwabach (CEO) and Dr. Siwen Deng (CTO), Sundial Foods gained recognition for its unique approach to creating plant-based meat alternatives. The company participated in the Nestle R&D Accelerator program in 2020 and secured a significant $4 million seed round in November 2021.

Despite generating excitement with the launch of its plant-based chicken wings in select restaurants in New York and San Francisco, Sundial Foods faced challenges in the competitive fundraising landscape. CEO Jessica Schwabach explained, “Our journey as Sundial Foods is over, but our IP has found a new home. Operating as a venture-backed startup proved to be challenging, and we realized that partnering with a larger food company with existing resources and distribution networks would allow our technology to reach its full potential.”

The decision to sell its intellectual property marks a strategic shift for Sundial Foods, allowing the company’s innovative protein-structuring technology to continue to grow and evolve under new leadership. The move reflects the evolving landscape of the plant-based food industry and the importance of strategic partnerships in driving innovation and growth.

While Sundial Foods may have closed its doors, the impact of its groundbreaking technology will continue to be felt in the plant-based food sector. The company’s legacy lives on through its intellectual property, now in the hands of a prominent European food company poised to take the technology to new heights.