Evolved Foods Raises INR 7.30 Crore to Redefine Plant-Based Protein Market with Evolved Plant Meat

Evolved Foods, a prominent player in the plant-based protein industry, has successfully closed its seed round, securing INR 7.30 Crore in funding. This significant investment was led by renowned investors Rainmatter Health, backed by Zerodha, and Kamala Capital. The round also saw the participation of prominent individuals, including Anvitha Prashanth (Anyaa Ventures), Aprameya Radhakrishna (Founder of KOO App), and a group of angel investors such as 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.

Evolved Foods has developed an innovative solution to address protein deficiency, which is prevalent in the average Indian diet. Their flagship product, Evolved Plant Meat, is crafted from a combination of soy, coconut, and rice protein, offering a delicious and sustainable alternative to traditional animal-based protein sources.

Roma Roy Choudhury, Founder & COO of Evolved, expressed their excitement about the journey ahead, stating, “Our product is the culmination of three years of extensive research and numerous 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, saying, “Protein deficiency is a significant issue faced by many Indians. Evolved Foods’ approach to tackling this problem with their innovative plant-based foods, rich in protein and mindful of the carbon footprint, resonated with us. We are thrilled to join them on this journey.”

Pradeep Rao, CEO of Evolved, highlighted 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 stands out due to its exceptional 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 established partnerships with renowned hospitality brands in India, offering over 50 curated dish creations by top chefs. Furthermore, Evolved Foods has ambitious plans to expand its presence in the Middle East and Europe.

Evolved Foods’ plant-based dishes are available for order at popular restaurants, QSRs, delivery kitchens, and star hotels, including Curefoods, GOPIZZA, Shangri-La, Go Native, Royal Orchid, Toscano, and Trippy Goat, across cities such as 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 Crore by 2030.

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