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Power Law company profile

Simulate

eCommerce & Marketplaces · San Francisco, United States · Founded 2018

SIMULATE, operating under the brand name NUGGS, is a food technology company focused on developing and marketing plant-based meat alternatives. The company was founded in 2018 by Ben Pasternak, a young tech entrepreneur from Australia who had previously gained recognition for developing mobile apps like Monkey and Flogg. Pasternak's transition from tech to food was driven by a desire to apply a software development mindset to nutrition, aiming to create products that could be rapidly iterated and improved, much like software updates. This approach is central to SIMULATE's philosophy, which frames its food products as simulations of their animal-based counterparts, constantly being refined for better taste, texture, and nutritional value. The company's flagship product line consists of plant-based chicken alternatives, including NUGGS (nuggets), TENDERS (tenders), WINGS, and PATTIES. These products are engineered from a base of soy and wheat proteins to closely mimic the experience of eating traditional chicken. Initially launched through a direct-to-consumer model, SIMULATE has since expanded its distribution channels significantly. Its products are now available in over 40,000 retail locations across North America, including major chains like Walmart, Target, Whole Foods Market, and Loblaws in Canada. This retail expansion represents a key component of its growth strategy, moving beyond its digital-native origins to capture a broader consumer base in the grocery aisle. The business model combines direct online sales with wholesale distribution to retail and foodservice partners. SIMULATE has attracted considerable investor interest, securing substantial funding to fuel its research, development, and expansion. The company has raised a total of $57 million over several funding rounds. A notable Series B funding round in 2021 brought in $50 million, led by Seven Seven Six, the venture capital firm of Reddit co-founder Alexis Ohanian. This capital has been instrumental in scaling production, growing the team—which includes food scientists and engineers—and pushing new product versions into the market. The company operates within the competitive plant-based food market, targeting a diverse range of consumers that includes not only vegans and vegetarians but also flexitarians and meat-eaters looking for alternative protein sources. Keywords: plant-based chicken, food technology, alternative protein, direct-to-consumer, retail food, CPG, Ben Pasternak, soy protein, meat substitute, venture capital