Ryan Ozawa / Flickr Creative Commons

Soylent, Silicon Valley's favorite gray drink for people too busy to eat a meal, said on Thursday that it's raised $50 million in additional funding from GV, Google's VC arm, along with other existing investors.

Our thought bubble: The startup's new round of financing is quite surprising considering that Soylent has issued four product recalls over the last 18 months, the most recent being on April 24, less than two weeks ago. It's unclear how investors are interpreting these operational issues, though they're clearly looking past them.

Soylent, founded in 2013, made a splash in Silicon Valley as an easy way for busy entrepreneurs and tech employees to consume a nutritional meal in the form of a drink made with Soylent's powder, without bothering with real food. Since then, the company has developed new versions of its drink, added a morning meal alternative, as well as a food bar for a quick snack.

The deal: GV partner Andy Wheeler is joining Soylent's board as part of the deal, with Tao Capital Partners, existing investors, Lerer Hippeau Ventures, and Andreessen Horowitz also participating in the round. This brings Soylent's total funding to $74.5 million.

Note: Lerer Hippeau Ventures is an investor in Axios.

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 10,890,511 — Total deaths: 521,694 — Total recoveries — 5,772,017Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Regeneron stops trial after drug fails to help patientsWhat we know about the coronavirus immune response — Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.

12 hours ago - Health

Fauci: Coronavirus surges mark a "very disturbing week" in the U.S.

Fauci testifies to the Senate Health, Education, Labor and Pensions Committee on June 30. Photo: Al Drago/AFP via Getty Images

NIAID director Anthony Fauci told medical journal JAMA on Thursday that it has been a "very disturbing week" for the spread of the novel coronavirus in the U.S.

What's happening: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Caitlin Owens reports.