It’s a daunting task, but a growing cohort of domestic startups in the meat-loving country, along with a few foreign firms, are on a mission to reverse the trend.
The most prominent VC news of last week included HR software-maker WorkTrans’ announcement of the $190.5 million raised across its latest two rounds, Hey Maet’s multi-million dollar round that will be used to expand the company’s operations and Horizon Robotics’ second tranche of its possibly $700 million Series C round.
Unilever announced on Wednesday to expand its partnership with Burger King on the artificial meat Whopper in Europe, China, Latin America, and the Caribbean.
Customers in Hong Kong and Singapore can now buy Impossible Foods’ flagship plant-based beef in about 200 grocery stores, as the company awaits approval to enter China’s market.
Vesta Food Lab, China’s first venture-capital-backed food tech startup focusing on plant-based food, is set to launch its local brand “HUICUI” and introduce their meatless spaghetti with Ramen Talk.
China’s VC activity is beginning to recuperate with a series of notable investments from ByteDance, Meituan Dianping, Matrix Partners China and others.
The majority of China’s meat products are imported, and given the currently turbulent geopolitical climate, plant-based meat alternatives will increase China’s self sufficiency, and shine a positive light on the industry in the eyes of regulators.
