Growthwell Foods, a manufacturer of plant-based alternatives for meat and seafood, has announced it has raised $22 million in a Series A funding round led by Creadev.
Located in Singapore, the company aims to expand its business and production development by making sustainable and nutritious plant-based offerings.
The funding round also included participation from GGV Capital, Iris Fund (Iris Capital and Hanwha, supported by Penjana Kapital) and existing investors Temasek and DSG Consumer Partners.
“We are extremely pleased to have global investors like Creadev and GGV Capital onboard Growthwell as we look to scale up our plant nutrition business beyond Southeast Asia,” said Justin Chou, executive director of Growthwell Foods.
He continued: “We are thankful to have the conviction and continual support of existing investors like Temasek and DSG Consumer Partners as Growthwell continues to further strengthen and grow the team beyond the family members. We believe our current series A fundraising round is one of the largest in the Southeast Asia food tech space and we will continue to trailblaze plant nutrition in Asia.”
This funding round comes after Growthwell raised $8 million last year to expand its plant protein operation.
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial