Evolved Foods Raises INR 7.30 Crore in Seed Round Led by Rainmatter Health and Kamala Capital
Evolved Foods, a leading plant-based protein company, proudly announced the successful closure of its seed round, securing INR 7.30 Crore in funding. The round was led by marquee investors Rainmatter Health, backed by Zerodha, and Kamala Capital. The investment round also saw participation from notable individuals such as Anvitha Prashanth (Anyaa Ventures), Aprameya Radhakrishna (Founder of KOO App), and a group of angel investors, including Rachel Goenka & Karan Khetarpal (Goenka Ventures Family Office), B G Mahesh (Founder/ex-MD of OneIndia.com), Sushant Arora (Cofounder of CleanMax Solar), Swapnil Shah (ex-Brand head, Proctor & Gamble), and Vananam Ventures Trust.
Evolved Foods has developed a unique solution to address protein-deficiency prevalent in the average Indian diet. Their flagship product, Evolved Plant Meat, is made from ingredients such as soy, coconut, and rice protein, offering a delicious and sustainable alternative to traditional animal-based protein sources.
Roma Roy Choudhury, Founder & COO of Evolved, expressed their excitement about the journey they embarked on, stating, “Our product is the result of three years of extensive research and countless consumer trials. With the infusion of funds, we will enhance efficiencies across our production and supply chain operations, propelling us towards achieving our next milestones.”
Dilip Kumar, representing Rainmatter Health, shared his perspective on the investment, saying, “Most Indians face protein deficiency in their diets, and this is a significant issue. Evolved Foods’ approach to tackle this problem with their innovative plant-based foods, rich in protein, while also considering the carbon footprint, resonated with us. We are excited to join them on this journey.”
Pradeep Rao, CEO of Evolved, emphasized the growing consumer demand for plant-based and protein-rich food options both domestically and internationally. He stated, “Our mission is to make every meal powerfully delicious in a healthier and more sustainable way. This investment will accelerate our growth plans and enable us to capitalize on the strong order pipeline from domestic and export markets. With our range of offerings, we intend to take India to the world.”
Evolved Plant Meat stands out due to its nutritional profile, containing 15% protein and less than 5% fat. Its versatility allows it to absorb flavors and provide an authentic taste experience even in traditional recipes. The company has partnered with renowned hospitality brands in India, offering over 50 curated dish creations by top chefs. Furthermore, Evolved Foods plans to expand its presence in the Middle East and Europe.
Evolved Foods’ plant-based dishes are available to order from popular restaurants, QSRs, delivery kitchens, and star hotels, including Curefoods, GOPIZZA, Shangri-La, Go Native, Royal Orchid, Toscano, and Trippy Goat, across cities such as Bangalore, Mumbai, Delhi, and more. The combined domestic and global market size for Indian plant-protein companies is projected to reach Rs. 12,708 Crore by 2030, according to a recent industry report by Deloitte and The Good Food Institute India.
Evolved Foods has developed a unique solution to address protein-deficiency prevalent in the average Indian diet. Their flagship product, Evolved Plant Meat, is made from ingredients such as soy, coconut, and rice protein, offering a delicious and sustainable alternative to traditional animal-based protein sources.
Roma Roy Choudhury, Founder & COO of Evolved, expressed their excitement about the journey they embarked on, stating, “Our product is the result of three years of extensive research and countless consumer trials. With the infusion of funds, we will enhance efficiencies across our production and supply chain operations, propelling us towards achieving our next milestones.”
Dilip Kumar, representing Rainmatter Health, shared his perspective on the investment, saying, “Most Indians face protein deficiency in their diets, and this is a significant issue. Evolved Foods’ approach to tackle this problem with their innovative plant-based foods, rich in protein, while also considering the carbon footprint, resonated with us. We are excited to join them on this journey.”
Pradeep Rao, CEO of Evolved, emphasized the growing consumer demand for plant-based and protein-rich food options both domestically and internationally. He stated, “Our mission is to make every meal powerfully delicious in a healthier and more sustainable way. This investment will accelerate our growth plans and enable us to capitalize on the strong order pipeline from domestic and export markets. With our range of offerings, we intend to take India to the world.”
Evolved Plant Meat stands out due to its nutritional profile, containing 15% protein and less than 5% fat. Its versatility allows it to absorb flavors and provide an authentic taste experience even in traditional recipes. The company has partnered with renowned hospitality brands in India, offering over 50 curated dish creations by top chefs. Furthermore, Evolved Foods plans to expand its presence in the Middle East and Europe.
Evolved Foods’ plant-based dishes are available to order from popular restaurants, QSRs, delivery kitchens, and star hotels, including Curefoods, GOPIZZA, Shangri-La, Go Native, Royal Orchid, Toscano, and Trippy Goat, across cities such as Bangalore, Mumbai, Delhi, and more. The combined domestic and global market size for Indian plant-protein companies is projected to reach Rs. 12,708 Crore by 2030, according to a recent industry report by Deloitte and The Good Food Institute India.
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