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Kindrik Partners recently advised Singapore-based alternative meat foodtech startup Karana on its $1.7million seed funding round.
Participating investors include Henry Soesanto (CEO of Monde Nissin Group), agtech investment firms Big Idea Ventures and Germi8, and angel investors Kevin Poon and Gerald Li (both Hong Kong entrepreneurs with experience in the food and beverage industry).
Founded in 2018 by Dan Riegler and Blair Crichton, the company’s processing method uses jackfruit sourced from Sri Lanka to create a texture that replicates minced and shredded pork more closely. This texture makes it easier than other meat substitutes to use in dishes like dumplings, char siu bao or bahn mi.
“In the future, we will launch products using other regional ingredients that will enable us to expand beyond pork,” the founders said.
Chris Wilson, Kindrik Partners partner, says of the deal, “We are seeing a lot of momentum in the foodtech and meat substitute industry. Following this round Karana is well placed to take advantage and are we are excited to watch their continued growth.”
Read our other recent deal announcements here.