Leading plant-based protein company, Evolved Foods, proudly announced the successful completion of its seed funding round, raising INR 7.30 Crore. The round was led by prominent investors Rainmatter Health, supported by Zerodha, and Kamala Capital. Anvitha Prashanth (Anyaa Ventures), Aprameya Radhakrishna (Founder of KOO App), along with a group of angel investors including Rachel Goenka & Karan Khetarpal (Goenka Ventures Family Office), B G Mahesh (Founder/ex-MD of OneIndia.com), Sushant Arora (Cofounder of CleanMax Solar), Swapnil Shah (ex-Brand head, Proctor & Gamble), and Vananam Ventures Trust also participated in the funding round.
Evolved Foods has developed a groundbreaking solution to address protein deficiency, a prevalent issue in the average Indian diet. Their flagship product, Evolved Plant Meat, is crafted using ingredients like soy, coconut, and rice protein, providing a delicious and sustainable alternative to traditional animal-based protein sources.
Expressing her excitement, Roma Roy Choudhury, Founder & COO of Evolved, highlighted the extensive research and numerous consumer trials that went into developing their product. She stated, “Our product is the result of three years of extensive research and countless consumer trials. With the infusion of funds, we will enhance efficiencies across our production and supply chain operations, propelling us towards achieving our next milestones.”
Dilip Kumar, representing Rainmatter Health, shared his perspective on the investment, stating, “Protein deficiency is a significant issue faced by many Indians. Evolved Foods’ innovative approach to tackling this problem with their plant-based foods, rich in protein and mindful of the carbon footprint, resonated with us. We are excited to join them on this journey.”
Pradeep Rao, CEO of Evolved, emphasized the growing consumer demand for plant-based and protein-rich food options, both domestically and internationally. He stated, “Our mission is to make every meal powerfully delicious in a healthier and more sustainable way. This investment will accelerate our growth plans and enable us to capitalize on the strong order pipeline from domestic and export markets. With our range of offerings, we intend to take India to the world.”
Evolved Plant Meat distinguishes itself with its nutritional profile, containing 15% protein and less than 5% fat. Its versatility allows it to absorb flavors and provide an authentic taste experience, even in traditional recipes. The company has formed partnerships with renowned hospitality brands in India, offering over 50 curated dish creations by top chefs. Moreover, Evolved Foods has plans to expand its presence in the Middle East and Europe.
Evolved Foods’ plant-based dishes are readily available for order at popular restaurants, QSRs, delivery kitchens, and star hotels, including Cure foods , GO PIZZA, Shangri-La, Go Native, Royal Orchid, Toscana, and Trippy Goat, across cities like Bangalore, Mumbai, Delhi, and more. According to a recent industry report by Deloitte and The Good Food Institute India, the combined domestic and global market size for Indian plant-protein companies is projected to reach Rs. 12,708 Cr.