Shanghai, August 3, 2022 /PRNewswire/ — Shanghai Based alternative protein startup 70/30 Food Tech is set to launch its ready-to-eat products using its biomass fermented protein. This protein, a key ingredient developed by the startup’s R&D team, serves as a meat substitute that mimics the texture and nutritional profile of shredded chicken.
The company will be the first to bring its Mycelium protein product to the Chinese market and recently closed a deal from global impact investor NewCrop Capital and others for an undisclosed amount.
70/30 is an investment portfolio company of Dao Foods, a VC firm focused on accelerating alternative protein companies serving the mainstream Chinese market. Since its launch, 70/30 has sold 25,000+ functional plant-based meals with zero advertising budget.
of The company’s innovation strategy leadEve Samyukta, “It was clear that we needed a meat substitute that was shaped like meat, but like our other food bowls, it is natural and complete. This biomass protein is ‘collected’ with our insides. Home process and equipment Design. ” she is one A graduate of Imperial College London and a chemical engineer with over 15 years of experience in product level science. She is also the founder of Plant Based Consulting China.
of The Good Food Institute (GFI) recognizes fermentation as a third pillar in the alternative protein industry (alongside cell culture and plant-based). $435 million According to GFI only by investment capital in 2020.
“As part of the pilot launch in 2021, we sold over 25,000 prepared food products to more than 1,600 customers. We gathered valuable information about how the average worker of 996 in cities makes food decisions and what they expect from plant-based food,” said the associate. Founder and Chief Product Developer Mike Huang.
70/30 will increase its production capacity with its manufacturing partner Shanghai Qingmei Green Food Group, an industrial giant. China They have an extensive cold chain logistics network in their new facility. Shanghai. In this partnership, 70/30 will ramp up production and roll out its healthy and delicious meal plans nationally in the last quarter of 2022.
The company will soon launch a series A round of funding to increase the amount of mycelium protein, grow its research and development team, and offer new products created for Chinese consumers.
Email: [email protected]
LinkedIn profile: https://www.linkedin.com/in/eve-70/30-tech/
Founder, product developer
Email: [email protected]
About 70/30 Food Tech
70/30 Food Tech develops functional plant and mycelium-based foods and produces its own biomass protein. The 70/30s philosophy is that 70% of the food we eat should come from a variety of plant-based foods, and 30% of our food should be fun. Founded in 2020 by F&B Consultants China In the plant-based sector, the startup has developed practical meal plans for busy white-collar professionals living in Tier 1 cities of the country. Its mission is to improve human health and fight climate change by making healthy food accessible, accessible and affordable to all.
Source 70/30 Food Tech