Friday, July 1, 2022
Techiexpert.com
No Result
View All Result
  • Login
  • Register
Exclusive Videos
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
No Result
View All Result
TechiExpert
No Result
View All Result

Plant Protein Innovator Proeon raises INR 17.5 Crores in Seed Round

Srikanth by Srikanth
September 7, 2021
in Startup news
Reading Time: 3 mins read
Plant Protein Innovator Proeon raises INR 17.5 Crores in Seed Round
12
SHARES
151
VIEWS
Share on FacebookShare on Twitter

Committed to building a sustainable and environment friendly food ecosystem, Pune based food ingredient start-up Proeon, has recently raised INR 17.5 Crores as seed capital. The funding round, led by entrepreneur Shaival Desai, also saw participation from Flowstate Ventures, Peak Sustainability Venture Fund I (executed by Samir Shah on behalf of the Fund), Waoo Partners (Pratul Shroff family office), and other angel investors. Existing investor Sanjaya Mariwala, MD of OmniActive Health Technologies Limited also participated in this round. The funds will be utilized to enhance growth and set up a research lab in the Netherlands, Europe, filing IP, scaling up production and expanding the team. 

Specialized in high quality plant protein ingredient innovation, Proeon was founded in 2018 by Ashish Korde and Kevin Parekh to promote clean and healthy food for “people, planet, and conscience”. The company helps solve critical formulation challenges at the ingredient level, making it easier for food companies to make tastier and healthier plant-based meat, dairy, and egg replacement products.  

Speaking on the funding, founders Kevin Parekh and Ashish Korde said, “We are at the centre of creating next-gen plant protein ingredients and are delighted with the trust shown by our investors. By relentlessly focusing on innovation and partnering with large global brands as well as startups, we are working towards creating food products that are hassle-free to formulate, and are loved by consumers. Our immediate focus would be expanding presence in the markets of North America and Europe, where the shift to plant proteins is accelerating at an unprecedented pace.”

With the plant-based proteins sector projected to reach nearly USD 200 Bn by 2027, the founders have struck a chord in the global food industry as food manufacturers are aiming to capture the new market being created. Global consumers are increasingly becoming aware of the impact of their food choices, leading them to opt more and more for plant based diets.

Commenting on the investment, entrepreneur Shaival Desai, who has also invested in startups such as Licious, Peesafe, said, “We’re really happy to have partnered with Proeon in their journey to innovate in the alternative proteins space. Kevin and Ashish, bring deep industry experience and thorough technical understanding of the proteins space and are the perfect team to cater to this industry that thrives on innovation.”

“We are thrilled to invest in Proeon which is catering to a rapidly growing market of plant-based proteins in India and globally. Proeon’s technology will have a major societal impact by solving climate change and nutrition challenges of today. The team has demonstrated exceptional technical and strategic capabilities, and is strongly positioned for exponential growth.”  added Anjani Bansal, Founder – Flowstate Angel Investment Fund. 

“Replacing meat with plant based alternatives is a critical part of the planet’s journey towards sustainable survival over the next few decades . Proeon’s plant-based protein will play an important role in achieving that sustainability. ” said Pratul Shroff.

Currently, the company is working with brands from Europe, North America, and Southeast Asia to build more sustainable and healthier plant-based alternatives such as highly functional plant-based egg-replacement products, clean-label burgers, patties, and alternative dairy products. In collaboration with their partners and customers, they are also aiming to save more than 170 billion liters of water and eliminate about 150 metric tonnes of CO2 emissions by replacing wasteful, animal-based foods with plant-based alternatives. 

Tags: Funding NewsProeon
Share4Tweet3Share1Pin2

Related Posts

Hyperlocal marketplace Urvann raises Rs. 3 Cr in Seed Round led by IPV
Startup news

Hyperlocal marketplace Urvann raises Rs. 3 Cr in Seed Round led by IPV

Data Analytics startup USEReady launches a new centres
Startup news

Data Analytics startup USEReady launches a new centres

Neuron7.ai emerges from Stealth Mode, Raises $4.2 Million in Seed Funding
Startup news

Neuron7 Raises $10 Million Series A Funding to Revolutionize AI-Powered Customer Service

AI-based Mobile Time Tracking & Workforce Productivity with Enalytix
Startup news

AI-based Mobile Time Tracking & Workforce Productivity with Enalytix

Patented public transport app with Real-time public transport information – Tummoc
Startup news

Patented public transport app with Real-time public transport information – Tummoc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Most Read

  • How to Track Someone’s iPhone by Phone Number?

    How to Track Someone’s iPhone by Phone Number?

    344 shares
    Share 138 Tweet 86
  • Top 5 car automation trends to know

    163 shares
    Share 65 Tweet 41
  • Is Parody Coin investment a Good Investment?

    67 shares
    Share 27 Tweet 17
  • What is windows modules installer ? How to Enable/Disable

    1236 shares
    Share 494 Tweet 309
  • Tips to Reduce Your Website Hosting Costs

    871 shares
    Share 348 Tweet 218
  • How to Track Activities an Instagram account?

    83 shares
    Share 33 Tweet 21

Recent Stories

Telemedicine or e-medicine: What is it?

Telemedicine Business
Share4Tweet3Share1Pin1

Does domain extensions impact SEO standards

Does domain extension impact SEO standards
Share4Tweet3Share1Pin2

Ways Data Analysis has changed customer reward programs

Ways Data Analysis has changed customer reward programs
Share4Tweet3Share1Pin2

Here’s why Deep Learning might not be enough for celebrity face recognition

Digital Learning face recognition
Share5Tweet3Share1Pin3
  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

© 2022 All Rights Reserved

No Result
View All Result
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media

© 2022 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cookie Law Notice
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT