The Company That's Trying To Make Eggs Obsolete Is Raising $50 Million At A $300 Million Valuation

Hampton Creek, the San Francisco-based startup that's creating a plant-based alternative to eggs, is in the middle of raising $50 million at a more than $300 million valuation, according to The Wall Street Journal, citing sources.

Earlier this year, the company raised $23 million in a series B round. In all, the company has raised around $30 million.

Hampton Creek makes mayo and cookie dough that are egg-free, and sells them directly to grocery stores, such as Whole Foods. The company says that its product is 48% cheaper than using chicken eggs.

The company also announced that its most-recent big hire, Ali Partovi - who's also an investor - will be leaving the company.

Sources told Re/code that Vy Capital is leading the latest round, but other investors are involved as well.

Previous investors include Horizon Ventures, Khosla Ventures, and Founders Fund.