Better Bite Ventures serves funding to India-based alt-protein firm

Better Bite Ventures, a VC fund with a focus on alternative protein, has invested an undisclosed amount in Greenest, an India-based plant protein brand. Startup advisor Sachid Madan also participated in the pre-seed round.

Team Greenest / Photo credit: Greenest

Greenest, which makes local versions of plant protein products, partners with food service players and currently works with around 200 stores.

“This funding moves us a step closer to helping build a more equitable food system where we have smarter and more sustainable ways to satiate human needs rather than have animals on our plates,” said Gaurav Sharma, founder and CEO of Greenest.

The Indian plant-based market is likely to reach US$400 million to US$450 million in the next five years, according to a Future Market Insights market report.

Greenest will be using the funds to expand its team, product line, and distribution footprint.

“We have recently made several investments in India, as we believe in the long-term potential of the country’s alt-protein market,” Michal Klar, general partner at Better Bite Ventures, told Tech in Asia.

In February, the VC firm launched a US$15 million fund for investments in alternative protein startups across the Asia Pacific.

See also: Why are alternative protein startups like Impossible Foods scaling to China?