February 10, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

Cooks Venture, a next generation poultry genetics and regenerative agriculture company, announced $50 million in funding from insurance technology financing pioneer, PIUS. 

Launched in early 2019 by Matthew Wadiak, founder and former COO of Blue Apron, after 10 years in development, Cooks Venture breeds and raises proprietary slow-growth heirloom chickens using methods that account for the health of the animals, humans, and the environment. Today, the company is the largest pasture-raised poultry company in America committed to regenerative agricultural practices, and the country’s only poultry company with its own integrated breeding line. 

As the only vertically integrated chicken producer in the U.S. that breeds through selection and not genetic engineering, the company poses a stark contrast to the factory farming operations that dominate the U.S. broiler industry. Combating the lack of genetic diversity due to systemic inbreeding of commercial broiler hens, and the subsequent health and welfare issues associated with these practices, the company’s proprietary pedigree line, the Pioneer, is selectively bred to grow slower with a stronger immune system compared to conventional birds.

Through its dedication and work, and by prioritizing nutritional quality and flavor, Cooks Venture has landed on a system that provides significantly improved animal welfare, strong natural pathogenic resistance for food systems, healthier bottom lines for farmers and employees, vigorous demand for regenerative agriculture crops, and noticeably better tasting chickens for consumers.

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

These relationships were followed by a partnership with Food ID, a company able to independently verify the absence of antibiotics and the use of non-GMO feed for its birds.

Just as the use of antibiotics and feed rations have become key concerns of consumers, genetic diversity in poultry lines driven by independently funded breeding companies is growing increasingly important due to the overconsolidation seen in the poultry genetics industry. Highlighting how pervasive the issues are in the sector, the largest independent, scientific broiler study conducted by the University of Guelph names Cook Venture’s Pioneer broiler breed and its parent stock on a short list of breeds that meet the Global Animal Partnership’s new standard for animal welfare – all told, this list represents less than 1 percent of U.S. production.

“In PIUS’ extensive evaluation of Cooks Venture, it’s clear the company’s IP is only rivaled by its potential for long-term sustainable impact,” said Joe Agiato, CEO, PIUS. “With more than a decade of research behind the Pioneer breed, Cooks Venture proves the food we eat can – and should – nourish our bodies as well as the planet. The PIUS team is privileged to play a role in the next phase of Cooks Venture’s growth, and we are all eager to see how they will revolutionize the poultry industry.”

The capital secured from PIUS will carry Cooks Venture forward as it strives to be the leading slow-growth broiler breeder in the world, noted Wadiak.

“In working with PIUS and utilizing its IP-backed financing facility, Cooks Venture has the opportunity to become the leading slow-growing broiler breeder globally and the most compelling and competitive poultry genetics company,” said Wadiak.

“The $50 million in funding will support Cooks Venture in dramatically increasing our genetics assets and strategic implementation, a culmination of 12 years of research and development, thus improving animal welfare and supplying more nutritious and flavorful chicken, the most consumed meat in the U.S. and the world.”

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– Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan-stone@globalaginvesting.com.