The vegan movement is thriving and one of the main indicators is the amount of money being invested in plant-based brands around the world.
This week we have a couple of new interesting roundups.
Plant-based food brand Squeaky Bean plans to open a second production facility after it secured £5 million (USD 6.8 million). The funds were invested by Winterbotham Darby the parent company.
The monies will be used to build a 48,000-square-foot facility to increase the brand production and distribution capacity. It is estimated it will create more than 100 jobs.
Squeaky Bean offer vegan chicken and deli slices and It is behind the UK's first vegan scotch egg.
Tom Faulkner, head of plant-based at Winterbotham Darby, said in a statement:
“Demand for plant-based produce is increasing rapidly and in recent months our operations have been stretched to capacity. Opening our second plant-based factory will help us to fulfil both existing and new opportunities and is testament to our belief in the category,”
“Our additional production capacity will support strong demand for these products and allow us to introduce these and the rest of the range, to a bigger audience than ever before.”
Yofix Probiotics, an Israeli vegan dairy brand, just received USD 3.5 million in a recent Series A funding round.
The investor – The Millennium Food-Tech led the funding round, they also back cell-based meat company Aleph. Dairy giants Müller Ventures and Le Groupe Bel also invested, among others.
Yofix Probiotics produces dairy- and soy-free fermented prebiotic and probiotic food, including vegan spreads, cheeses, and yogurts. They use sunflower seeds, oats, lentils, and coconut to make their products.
Shandi Global a Singapore startup just got USD 750,000 in a seed funding round. The plant-based chicken brand will use the funds to build a manufacturing facility in Singapore.
Eighty percent of the food produced there will be exported to China, South-East Asia, and North America, as well as regions in Africa.
Shandi uses pea protein, chickpeas, flaxseed, brown rice, and green peas to make its vegan meat. It offers shredded pieces, patties, strips, and drumsticks.
But more options are on the way. CEO Dr. Reena Sharma told FoodNavigator-Asia that the company plans to dip its toes into the snack, dairy, and baby food categories.