Malaysian plant-based producer Phuture Foods has announced a series of new partnerships with leading Asian brands to strengthen its position in the market. The expansion comes after Phuture secured RM7 million ($1.5 million) in funding to develop its vegan alt meat products, particularly its successful high-fiber alt chicken range.
“We are now available widely, and at an affordable price”
Phuture’s new deals include Korean chicken restaurant chain KyoChon, leading five-star hotel Grand Hyatt, and Korean convenience store CU Malaysia, amongst others. The plant-based brand hopes to strategically enable consumers to experience plant-based meals affordably through the new partnerships. Phuture’s main product across all markets will be its High Fiber Chick’n series, with its current retail footprint across Singapore, Malaysia, Hong Kong, Macau, and Thailand.
Phuture has also recently secured RM7 million ($1.5 million) in funding from investors in Singapore and Hong Kong as proof of concept and achievement of product development. The brand has stated it is now looking to fundraise further in order to scale its operations beyond Malaysia. Phuture also recently launched a plant-based pork market made from shiitake mushrooms and with halal certification.
“In the last few months, we have witnessed a surge of buy-ins, winning over the confidence of reputable brands. From KyoChon, one of the largest Korean fried-chicken restaurants, to Grand Hyatt, a leading five-star hotel and most recently Korea’s No 1 Convenience store, CU Malaysia, who are partners of the well-known myNEWS.com chain. We are now available widely, and at an affordable price,” Phuture CEO Jack Yap told New Straits Times.