Updated at 3:50 p.m. Pacific with comments from Hampton Creek’s Josh Tetrick.

Hampton Creek, a startup looking to replace factory-farmed eggs with a plant-based alternative, has lost high-profile investor Ali Partovi as its chief strategy officer, but it’s in the process of taking on a lot more funding, just a few months after an earlier $23 million raise.

The Wall Street Journal and Re/code reported today on a $50 million round, but Hampton Creek founder and chief executive Josh Tetrick said that figure is “definitely not” accurate.

“There’s more than three firms we’re in different stages with, and we haven’t moved ahead with one,” Tetrick said in an interview with VentureBeat. “We’re still kind of moving through the process, and we’re feeling good about it and hopefully we’ll get something closed here within the next 21 days.”

The Journal said the startup was kicking around a valuation near or above $300 million.

San Francisco-based Hampton Creek makes vegan “mayo” — substitutes for mayonnaise — in sriracha, chipotle, garlic, and regular flavors. It also makes fake chocolate-chip cookie dough. Whole Foods stores sell the products around the U.S.

Hampton Creek has been looking to form alliances with food companies to incorporate their creations into currently produced foods. In March Hampton Creek said it has signed deals with six Fortune 500 companies in just three months.

Previous investors include Bill Gates, Li Ka-shing’s Horizon Ventures, Founders Fund, Collaborative Fund, and Khosla Ventures.


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