Tender Food Inc.’s fiber-spinning machines have helped the company stand out in the crowded meat-substitute market. As that market begins to thin, the company is now spinning its tech into new verticals to expand its reach.
Cambridge-based Tender announced the launch of a new venture, Lasso. The company kicked off with a $6.5 million seed round and the introduction of its proprietary technology, Lasso SpinTech. The funding round was led by legacy Tender investors, including Rhapsody Venture Partners, with participation from Safar Partners and Claridge Venture Partners.
The new venture seeks to capitalize on Tender’s patented fiber-spinning technology, initially developed in an interdisciplinary lab at Harvard. The machines spin and weave plant fibers together like cotton candy, and are no larger than a washing machine, using less energy than a toaster oven.
Through Lasso, Tender CEO Mike Messersmith — formerly CEO of Swedish oat milk maker Oatly — is looking to expand fiber-spinning machines into new verticals like snacks, candy, and even baked goods.
The shift is indicative of trends within the alternative meat space. When Tender launched five years ago, there was a boom in alternative meats, but within the past two years, the market demand and enthusiasm have dwindled, according to Messersmith.
Within the past year, Clover Food Lab, the veggie-focused eatery, filed for Chapter 11 bankruptcy and shut down several locations across Boston, and ending its lease on a 40,000-square-foot facility in Hyde Park. Other alternative meat-based eateries, like B. Good, have also closed several locations as they reassess their brands.
Messersmith says that Lasso and Tender are well-positioned to capitalize on the growing shift of consumers who want more protein and fiber and less ultraprocessed foods. That presents a “massive opportunity for fast-moving, innovative startups like us,” says Messersmith.
“Part of what we’re endeavoring to do here is set the company up for the future of launching brands like Tender Foods,” said Messersmith.
As Lasso gets started, the emphasis will be on partnering with other companies to make plant-based products or to commercialize other brands and products. The company hasn’t announced any partnerships yet, but Messersmith says that there are some currently in the pipeline.
Tender, which completed its Series A in 2024 and received a $5.4M DOE grant in January, is continuing to focus on producing high-quality plant-based meat. Since closing its Series A funding, Messersmith says Tender has begun making its alternative meat outside of the lab for the first time and has begun manufacturing at scale with a Rhode Island manufacturing partner. The scaled production has reduced costs by 60% to 80%.
Messersmith says there are currently no plans to add employees to the 25-person team. Team members will help support both Lasso and Tender as they grow.
“Right now, the team that we have is really dialed in on the work to be done,” said Messersmith. “In this moment, we’re trying to put all of those resources into bringing the products to the world that allow us the freedom to go and do lots of new things.”
September 22, 2025