January 31, 2020

By Lynda Kiernan

New York-based Cooks Venture, a next generation food company rooted in regenerative agriculture and transparency, announced it has raised $4 million in capital from Golden West Food Group as part of a long-term strategic partnership agreement.

This funding follows less than six months after Cooks Venture raised $12 million from Amerra Capital. 

Cooks Venture was launched in early 2019 by Matthew Wakiak, founder and former COO of Blue Apron. At the time, and in connection with its launch, the startup also announced its acquisition of an 800-acre farm in Arkansas and two processing facilities in Oklahoma. Included on its 800-acre, wooded farm is a hatchery, pedigree chickens with unrestricted access to the outdoors, barns, and the country’s only biodiverse vertically integrated poultry operation, making Cooks Venture the only independent genetics company of scale in the world. 

One of the founding principles driving this startup is the knowledge that sequestering just 1 percent more carbon on agricultural land can reverse climate change. Through its business, the company aims to improve the agricultural supply chain through the integration of crop science, genetic IP, and regenerative production methods at all stages, for a superior, transparent food system.

After more than a decade in development, the company’s first products will be pasture-raised, slow-growth heirloom chickens raised on the company’s 800-acre farm, with a focus on better animal welfare, and regenerative farming methods supported by proprietary poultry genetics and crop science technology.

“I have raised and breed animals for food for five decades and am painfully aware of industrial poultry production,” said animal welfare expert Bill Niman.

“Cooks Venture’s unique breed, the “Pioneer,” is the product of over a decade of research into better, slower growing genetics and is the best tasting chicken I have ever had. Finally we have a scaled humanely raised, slower growing, affordable and delicious alternative that doesn’t torture the animals, farmers, consumers or the environment.”

After launching last year, Cooks Venture rapidly forged relationships in support of the scaling and commercialization of its business model and products. The company partnered with FreshDirect to make its slow-growth, heirloom chickens available across the U.S. Northeast, and two months later, partnered with fourth generation meat distributor Gold Gate Meat Company, which expanded its reach to customers, restaurants, and food retailers across Northern California.

This capital investment from Golden West Food Group will enable Cooks Venture to further expand its national distribution network to wholesalers and retailers.

“Consumers are always looking for a wider variety of ethically sourced meats, and we like to be at the forefront of what’s new and innovative in the market,” said Josh Solovy, president, Golden West Food Group. 

“We align with Cooks Venture’s philosophy that better animal husbandry yields higher quality, great tasting and better for you foods. That’s why we invested in Cooks Venture and believe they, in short time, will be a market leader for pasture-raised, heirloom and heritage bred, regenerative poultry in the U.S.”

Key to securing this deal with Golden West was newly appointed Cooks Venture CFO, Ankur Agrawal, who joins the company at a critical point of rapid growth. Agrawal, who will report directly to Wadiak,  will foster the continued sustainable growth of the company by leveraging his deep financial knowledge, and by building new investor partnerships, and establishing core processes. 

“Matt is committed to making a positive, long-lasting impact on the agriculture and food systems,” said Agrawal. “Cooks Venture provides a unique opportunity to combine my passion for healthy food and food systems, reversing climate change and building strong businesses.”

Agrawal began his career in investment banking focused on food and agriculture clients, and throughout his career has served in a variety of financial roles including innovation finance, FP&A, corporate development, and investor relations. He has held positions at Pepsico and Blue Apron, where he met Wodiak.

“As Cooks Venture continues to expand, it is critical that we add trusted executives to our team, who can help grow the business. I look forward to seeing what Ankur can do for the company as we look to our second year,” added Wadiak.

– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.