(L-R) EatKinda Co-Founders Jenni Matheson and Mrinali Kumar
Better Bite Ventures, a fund focused on alternative protein startups in Asia Pacific, has invested an undisclosed amount in four startups under its early-stage First Bite initiative.
The startups are Singapore-based Allium Bio and Cultivaer, New Zealand-based EatKinda, and India-based Klevermeat.
Founded by Jon Ho and Albertus Sarwono, Allium Bio focuses on co-culturing microalgae and mycelium to create more sustainable and functional ingredients, starting with protein isolate.
Also Read: Better Bite Ventures, Shiok Meats CEO invest in animal-free dairy startup Phyx44
Cultivaer is a stealth-mode startup, developing novel bioreactor-free technology that could significantly reduce costs and accelerate the scalability of fermentation-derived alt proteins.
Started by Mrinali Kumar and vegan chef Jenni Matheson, EatKinda crafts creamy plant-based ice cream from cauliflower, utilising cosmetically imperfect vegetables that would otherwise go to waste.
Klevermeat, launched by Nithin Shetty and Swapnil Kamble, is a cultivated (cell-based) seafood startup, striving to enhance the sustainability of the seafood industry.
“APAC is the world’s largest and fastest-growing protein market. We believe innovative startups are key to making the region’s food system more sustainable and resilient, and we want to support as many exceptional founders as possible,” said Michal Klar, Founding Partner of Better Bite Ventures.
Co-founded by Michal Klar and Simon Newstead, Better Bite Ventures is a US$15 million VC fund supporting early-stage alternative protein startups. Since its launch in late 2021, Better Bite Ventures has invested in 20 early-stage alt protein companies across Asia Pacific, including Singapore, China, India, Australia, and Indonesia.
Also Read: Bootstrapped: How 99VR raced against the clock to build a profitable business
Launched a few months ago, First Bite offers a US$50,000 investment to new and aspiring alt-protein founders in the APAC region, typically their first external funding.
A new round of First Bite applications is now open until May 19.
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