Veg Capital and ProVeg are mission-aligned organisations both aiming to remove animals from the food chain and support new startups working for the same cause. As such, the two have partnered to invest in selected alumni from the ProVeg Incubator – the world’s leading incubator of plant-based and cultured food startups.
At the end of last year, ProVeg and Veg Capital were part of a group which invested in Swedish plant-based seafood company Hooked, in a $600,000 raise for its fish alternatives. Hooked will launch its plant-based tuna, Toona, in restaurants from this spring.
The latest investment, as announced today, is a funding of €180,000 EUR for the sugar-free, plant-based desserts startup, Zveetz. Founded by Christian Krause and Vishal Kawatra in Berlin after being inspired by the personal and family health issues around the overconsumption of sugar. Zveetz graduated from the ProVeg Incubator last year.
Earlier in 2020, ProVeg International also invested in the Israeli startup Remilk, which is already starting to make a big impression, having raised $11.3 million USD last month to further develop its alternative dairy products.
Sebastian Joy, President of ProVeg International, said: “By investing in innovative and impactful food startups such as Zveetz, Hooked, and Remilk, ProVeg is driving the positive change that our food system desperately needs. Our mission is to reduce the global consumption of animals by 50% by the year 2040. Ensuring consumer access to attractive, affordable, and available plant-based alternatives is key to achieving that.”
Matthew Glover, Managing Director of Veg Capital and Founder of Veganuary, said: “Veg Capital is delighted to partner with ProVeg Incubator. As organisations, we are fully mission-aligned in exclusively supporting pioneering companies that are striving to replace animals in the global food system. All of the profits that are made through our collaboration will be donated back to ProVeg – a virtuous circle of positive change for animals and the planet.”
Vishal Kawatra, Co-founder of Zveetz, said: “We are on cloud nine right now and super grateful to have the combination of ProVeg and VegCapital, as the first institutional investment for our seed round closing this week. We are seeking best in class investors and it was clear that the combined value of both organisations provides a degree of capacity building that I have yet to see elsewhere in Europe.”
The ProVeg Incubator is currently accepting startup applications to join the upcoming edition of its accelerator programme, which will kick off in April 2021. Interested founders can apply online at provegincubator.com/apply