They extract proteins from legumes and other plant sources to create its “evolved” egg replica without cholesterol, antibiotics, or any animal cruelty. The egg replacement market is a relatively new concept in India, however, a recent report demonstrated Indian consumers to be far more open to and accepting of the idea of plant-based products when compared with US consumers. Evo Foods has recently welcomed veteran vegan founder Ryan Bethencourt as angel investor who is the co-founder and CEO of clean protein pet food company Wild Earth, famed for being featured on the reality series Shark Tank, and former program director at the biotech accelerator and early-stage seed fund IndieBio. Bethencourt will also join as an advisor for Evo Foods.
Founded by Kartik Dixit and Shraddha Bhansali in 2019, Evo Foods is a Mumbai-based food tech startup on a mission to transform India’s egg market with its 100% plant-based liquid egg product. Created with the latest food biotechnology, the startup harnesses plant proteins derived from lentils to create a sustainable yet delicious “evolved” egg replica that comes without cholesterol, antibiotics, or any animal cruelty.
Kartik, the CEO, has, in the past, worked for a cultivated meat company, represented India at the first European conference on new protein, and been instrumental in building up the plant-based and cell-based substitutes sector in the country. COO Shraddha, on the other hand, owns and operates a vegetarian restaurant and bar in Mumbai called Candy & Green, and is a well-known entrepreneur and sustainability activist.
There has yet to be a similar uptake in vegan liquid egg substitutes amongst Asian consumers, signaling a huge market for Evo Foods to capitalise on, given that eggs remain one of the most affordable and convenient sources of animal protein for millions in the region. India, for instance, produces a whopping 100 billion eggs a year, while in China, the figure is nearing 600 billion annually.
India has all the ingredients necessary to fuel the growth of the clean protein industry and it would be exciting to taste vegan eggs, with all the nutrients in one shell. New age startups are truly taking the shape and contributing in making India shine globally.
