The Chinese pea protein meat company Zhen Rou recently raised millions of RMB in seed round financing. It is reported that this round of investment comes from angel investor Wang Zhan and the team’s own funds. The funds will mainly be used for product research and development.
According to the reported plan, Zhen Rou is expected to have its first plant-based meat product ready by September of this year, using pea protein as a main ingredient. Lu Zhongxuan, the founder of Zhen Rou, also founded Fu Chou Zhe, and is one of the first to create a protein bar brand in China.
One of the goals of plant-based meat is to change consumer habits; American consumers are currently pursuing healthier food options that help protect animals and the environment where there is no need to sacrifice taste, and they are willing to pay a premium for them. Chinese consumers are also changing their habits, and plant-based meat has the opportunity to not only change consumers’ dietary habits, but also create a market valued at over tens of billions of dollars.
With thanks to Eve Samyuktha, Plantbased Consulting China