• Stray Dog Capital Invests in Australian Plant-Based Startup Deliciou



    US-based venture capital fund Stray Dog Capital has invested in the seed funding round of Australian startup Deliciou. It marks the first time the VC firm has invested in an Australian company.

    While there are now hundreds of alt-meat brands, what makes Deliciou different is that its products are shelf-stable.

    “We found that store-bought plant-based meats often had high levels of salt, sugar, and other nasties, which made a lot of people stay away from the category,” says founder Kjetil Hansen. “We wanted to create a healthy alternative. By making the Deliciou plant-based meats from dehydrated plant proteins, we eliminated the need for preservatives, salt, and sugar, which made more room for plant proteins and fibre.”

    Deliciou stray dog capital
    © Deliciou

    The business took off after Hansen pitched on Shark Tank Australia in 2017. It launched its first plant-based meat product, a shelf-stable chicken alternative, in 2020, selling out within the first week.

    Deliciou soon added plant-based alternatives to beef and pork to its range, as well as pre-seasoned ready meals (also shelf-stable). The startup is now working on expanding distribution to the U.S., Europe, and Asia, and will be launching at several major retailers in the next few months.

    A report has forecast that the Australian alt-meat industry could be worth $3Bn by 2030, and it’s been predicted that competition will get increasingly fierce.

    “The shelf-stable alternative meat category has been an area of interest for us for some time,” says Johnny Ream, Partner at Stray Dog Capital. “Deliciou not only delivers on taste but also in terms of its cleaner nutritional profile — that impressed us.”

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