A seed investment headed by local investor Better Bite Ventures netted US $2 million for plant-based meat startup Shaka Harry. Additionally participating in the round were the venture debt fund Panthera Peak and the food investor Blue Horizon.
The business, which provides a variety of snacks and meals centred on Indian cuisine, claims to have 25,000 monthly customers across Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Pune, Ahmedabad, and Gurgaon combined.
In a statement from the firm, Shaka Harry said that it also intended to develop quickly over the following five years to supply its goods to every Indian home.
Given that a substantial portion of non-vegetarians in the nation are trying to cut back on their meat consumption owing to sustainability and health concerns, India has been identified as an increasingly profitable market for plant-based meat businesses.
“Plant-based meats have a huge scope of acceptability in India, particularly among the growing flexitarian population. Yet not many brands have been able to make a mark due to the inability to replicate real meaty tastes in vegetarian profiles,” says Shaka Harry co-founder Sandeep Devgan.
