Is Chilean Startup NotCo a Threat to Dairy Giant Lala?
NotCo's valuation is 66% of Lala's, fueled by exploding demand for alt-dairy as traditional sales slow.
NotCo is an alternative dairy and meat startup based in Chile. It’s backed by the likes of Jeff Bezos, Roger Federer, and Lewis Hamilton (name a better trio). Founder and CEO Mathias Muchnik has expanded his vision to 6 different countries, including the US and Canada.
This year, NotCo entered Lala’s home turf of Mexico. Can it become Latin America’s Oatly?
In just 6 years, NotCo is now worth 66% the market cap of Lala, Latin America’s largest dairy company. This unbelievable achievement can only be explained by one thing: market growth. Thanks to the exploding demand for milk and meat alternatives worldwide, a company like Oatly (one of the world’s leaders in milk alternatives) has multiplied its yearly revenues by 3 in the last 2 years. NotCo seems to be following in its steps.
Investors clearly expect the growth to continue and have poured millions into Oatly and NotCo. By comparison, demand for dairy products is slowing and even decreasing in some parts of the world.