GREENEST secures pre-seed funding from alternative protein investors

Indian plant-based protein brand GREENEST has announced pre-seed funding from Asian alternative protein leader VC Better Bite Ventures and Indian food and agribusiness veteran Sachid Madan. GREENEST did not disclose the amount of the investment, but said the amount raised will be used to grow the organization, its product line and its distribution footprint. The company says it has B2B partnerships with some 200 restaurant players, including many progressive restaurants and chains such as Burgrill, Wat a Burger, Chocolate Room, Biggies Burger, Freshmenu and Eatfit, among others.

Better Bite Ventures is the first venture capital fund dedicated entirely to alternative protein investments in Asia-Pacific. Sachid Madan, former Managing Director of ITC’s Fresh F&L and Frozen Foods business, is known for starting and growing businesses such as Wheel powder for Hindustan Unilever, Act II Popcorn for Conagra India and ITC Masterchef, and was also President of FICCI’s National Agri. Committee.

GREENEST said the funding will help it develop smarter and more sustainable ways to introduce premium and cost-effective plant-based alternatives to the Indian market. He said the fund will focus on harnessing plant-based and cell-based agriculture technologies to create climate-friendly alternatives to meat, dairy, eggs and seafood that are better for people, communities and communities. animals and the planet.

According to Future Market Insights market report “The Plant Based Revolution: Growth Opportunities and Winning Strategies in the Global and Indian Plant based food market”, the Indian plant based food market is expected to reach US$400-450 million in over the next 5 years. India is a leading producer of protein-rich crops and is well placed to serve the domestic and international plant-based foods sector.

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