China plant-based ‘meat’ brand HERO Protein closes USD850k pre-seed round
HERO Protein, the first domestic plant-based ‘meat’ company in China to use cutting-edge “high moisture extrusion” technology, has completed a USD850k pre-seed funding round to launch its products into the market.
The funding round saw participation from Cremer, a leading global commodities and co-manufacturing company; Lever China Fund, the most active alternative protein investor in China; and senior executives from leading restaurant brands.
HERO Protein’s initial product range, which includes a variety of plant-based beef and chicken products, was formulated specifically for the Chinese market by a team of former senior R&D executives at Beyond Meat, Impossible Foods, Gardein, Lightlife and Morningstar, the five largest plant-based meat brands in North America. The application of high moisture extrusion technology, which is common in the west but to date has not been used by domestic brands in China, is particularly critical for reproducing the juiciness and mouthfeel of meat.
The funding round will be used to advance the company’s ongoing research and development, to develop and scale production, and to expand distribution. HERO Protein launched into the foodservice channel in China in January.
“Plant-based meat is a rising and unstoppable trend in China,” says HERO Protein CEO Edward Weng, who for the past fifteen years served as VP of Sales and Marketing at Xiamen Zhongma, selling conventional meat and other food products into leading QSR chains in China including KFC, Starbucks and Burger King. “HERO Protein aims to bring together the advanced food technology used by top international players such as Beyond Meat and Impossible Foods and the domestic know-how to curate delicious products specifically catered to the Chinese palate, at prices affordable for a broader range of Chinese consumers. We are very pleased to receive support from investors and partners who share our mission.”
Private Equity Wire
Read full article Share on twitter