Plant-based meat brand, Meat Fresh, has completed its angel round of financing with millions of RMB, which is exclusively invested by Hangzhou Gongshu District People’s Government. The new funds will be used for product development and market expansion.
Founded in 2019, Meat Fresh is a plant-based meat brand based on soybean protein. The company’s main selling points are cholesterol-free, hormone-free, antibiotic-free, low-calorie, and low-fat. The plant-based meat products of Meat Fresh are sold through B2B2C channels such as restaurant chains. At present, the brand also plans to focus on B2C and will launch a “customized nutrition meal” to reach users through its WeChat mini-program.
Meat Fresh cooperated with a listed joint venture to launch a series of plant-based meat prepared dishes, which are sold in more than 500 distribution channels nationwide. Additionally, the brand has signed a strategic cooperation with medical institutions to enter 1,000 hospitals.
Meat Fresh’s plant-based meat is made from natural soybean protein. The company adopts protein molecular cutting and modification technology. The plant-based long DNA chain is cut into short-chain DNA proteins, aiming at improving the quality of food processing technology. The short-chain proteins are combined after adding specific amino acids, and the microscopic molecular structure is closer to animal-based short-chain proteins.
In recent years, plant-based meat gained high popularity globally among investors. In our latest news, we have mentioned that Singapore-based Float Foods raised US$1.7 million in a seed round. According to Euromonitor’s forecast, China’s plant-based meat market will reach US$13 billion by 2023. “Domestic plant-based meat brands are facing two major challenges: 1) market education – consumers’ awareness of plant-based meat needs to be improved; 2) The new products need to be in line with Chinese taste and cooking habits,” said Mr. Lu Jieliang, the founder of Meat Fresh, who is a senior nutritionist in China with many years of experience in dietary research.