Another meat alternative player has entered the game.
Chinese plant-based meat startup Zhenmeat is looking to raise around $2 million in funding this year as it expands across its native country.
Founder Vince Lu told CNBC the company is currently “talking aggressively” with investors from Europe, the U.S., and China.
The company has already raised around $723,000.
Zhenmeat’s main product so far is a plant-based “mince meat” made from pea protein. Lu thinks the company will stand ready to compete with competitor plant-based companies because the products will cater to Chinese tastes.
“And another thing to make us unique is we tailored to our product … to Chinese cuisine,” Lu said. “So Chinese chefs and Chinese customers can make a lot of Chinese dishes out of this meat mince like dumplings,” Lu said.
