Leading alternative protein venture capital firm Unovis Asset Management has announced the closing of its investment in Indonesia-based startup, Green Butcher. Located in Jakarta, the company claims to be the first plant-based meat producer in the Southeast Asian country, developing chicken and beef alternatives using natural, whole-food ingredients.
vegconomist recently reported on Green Butcher’s upcoming collaboration with Starbucks in Indonesia, and this seed round funding will be used to scale up production in anticipation of this partnership, along with launching into mainstream retailers in Q2 2021. The funding will also be used to support additional R&D hiring.
Green Butcher was founded by Max Mandias and Helga Angelina, the founders of Burgreens, the largest vegan restaurant chain in Indonesia. The company’s range includes products such as Chick’n Satay, Chick’n Karaage, Beefless Chunks, Beefless Rendang and Shroom Balls, which are all sold ready to cook. The focus is on creating plant-based products that are specifically developed to go well with Asian comfort food and tastes.
“This investment will help us take advantage of the opportunity we see to become the leading consumer brand for plant-based foods that are tailored to the Asian palate,” said Helga Angelina, co-founder and CEO.
“Green Butcher is doing important work in Indonesia and we are honoured to be able to support their ongoing growth and development in an often-overlooked segment of the alternative protein market,” said Kim Odhner, Managing Partner, Europe & Asia, with Unovis Asset Management. “Helga Angelina and the entire team have made impressive progress over the past year, and Unovis aims to leverage its unique experience and industry position to help launch this innovative plant-based powerhouse to a global audience.