Meati Hands Over Assets to Attorney as Startup Seeks $4 Million Sale

Boulder-based alternative protein startup Meati is preparing to sell its business for $4 million, despite having raised nearly $450 million in funding. The company disclosed the planned sale in court filings, with attorney Aaron Garber assigned the company’s assets. The buyer, identified as Meati Holdings Inc., has sought permission to take over operations before the deal’s closure, with further details about the buyer unknown.

Despite announcing a $100 million capital raise and expanding its retail presence, internal communications reveal that Meati faced financial troubles, including a lender repossessing a large portion of its cash reserves without notice. This led to a warning from CEO Phil Graves that operations would likely cease and all 150 staff members would be laid off. At the time of the court filing, Meati reported holding $158 million in assets, with its mycelium-based meat alternatives available in 7,000 retail locations across the US.