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Perhaps the biggest indicator that the vegan movement is thriving is the amount of money being thrown at plant-based brands around the world.
Here is this week’s roundup of the latest vegan business news.
Squeaky Bean to open second facility following £5 million investment
Plant-based food brand Squeaky Bean plans to open a second production facility, after it secured £5 million (US$6.8 million).
Squeaky Bean’s parent company Winterbotham Darby invested the funds.
The 48,000-square-foot facility will lift the brand’s production and distribution capacity. It has also created more than 100 jobs.
“Demand for plant-based produce is increasing rapidly and in recent months our operations have been stretched to capacity. Opening our second plant-based factory will help us to fulfil both existing and new opportunities and is testament to our belief in the category,” Tom Faulkner, head of plant-based at Winterbotham Darby, said in a statement:
“Our additional production capacity will support strong demand for these products and allow us to introduce these and the rest of the range, to a bigger audience than ever before.”
Squeaky Bean offers vegan chicken and deli slices. It’s also behind the UK’s first vegan scotch egg.
Vegan dairy brand bags $3.5 million, with help from dairy giants
Yofix Probiotics, a vegan dairy brand based in Israel, just scooped $3.5 million in a recent Series A funding round.
Dairy giants Müller Ventures and Le Groupe Bel also invested, among others.
Yofix Probiotics produces dairy- and soy-free fermented prebiotic and probiotic food, including vegan spreads, cheeses, and yogurts.
The start-up uses sunflower seeds, oats, lentils, and coconut to make its products.
Shandi Global to supply vegan chicken to South East Asia, North America, and Africa
Singapore’s Shandi Global just acquired $750,000 in a seed funding round. The plant-based chicken brand will use the funds to build a manufacturing facility in Singapore.
Most (around 80 percent) of the food produced there will be exported to China, South-East Asia, and North America, as well as regions in Africa.
Shandi uses pea protein, chickpeas, flaxseed, brown rice, and green peas to make its vegan meat. It offers shredded pieces, patties, strips, and drumsticks.
But more options are on the way. CEO Dr Reena Sharma told FoodNavigator-Asia that the company plans to dip its toes into the snack, dairy, and baby food categories.