The story: Singapore-based whole-plant based meat brand Karana has closed US$1.7 million in seed round funding.
Investors: Henry Soesanto, CEO of Monde Nissin Corp; Big Idea Ventures; Germi8, a Japanese and Singaporean fund linked to Leave a Nest and Real Tech; unnamed Asian FMCG distributor; Hong Kong-based F&B entrepreneurs Kevin Poon and Gerald Li.
- To use the funds to launch its first range of whole-plant based meats and dim sum products in Singapore and to accelerate its research and development (R&D) capabilities to develop its product portfolio in the region.
- The funds will also be used to build out an experienced regional food tech team.
What is Karana: Its solutions deliver a new second generation meat alternative. The startup has used proprietary techniques to transform responsibly sourced organic jackfruit into a ‘pork’ that comes shredded or minced. No harsh chemicals, no heavy processing, just innovative mechanical techniques that enhance the texture of the naturally meat-like main ingredient.
Additional details: Karana is set to launch its whole-plant pork made from jackfruit in mid 2020 in Singapore in collaboration with some of the country’s top restaurants. The products will be available through retail in early 2021.