Singapore’s Shiok Meats nets $12.6m series A money

Shiok Meats, a cell-primarily based meat corporation, nowadays introduced that it has raised US$12.6 million in a sequence A investment spherical led through sustainable aquaculture-centered funding fund Aqua-Spark.

Seeds Capital, Japan’s Real Tech Fund, South Korea’s tech making an investment own circle of relatives workplace Irongrey, Yellowdog Empowers Fund, Ilshin Holdings Pte. Ltd., Toyo Seikan Group Holdings, Veg Invest Trust, Makana Ventures, AiiM Partners, Beyond Impact, Kelvin Chan Siang Lin, Alex Payne, and Nicole Brodeur additionally participated withinside the spherical.

Founded in August 2018 through Sandhya Sriram and Ka Yi Ling, the Singapore-primarily based corporation claims to be the primary cell-primarily based meat corporation in Southeast Asia.

Its flagship product is cell-primarily based totally shrimp, which the corporation describes as a clean, traceable opportunity to what the shrimp farming enterprise offers. The shrimp marketplace is a US$50 billion one globally, with Vietnam, Thailand, Indonesia, and India as essential producers, in keeping with Shiok.

The new budget will cross closer to constructing a industrial pilot plant from which Shiok plans to release its minced shrimp product in 2022, in keeping with a statement.

Bridge spherical (2020): US$three million from Agronomics, VegInvest, Impact Venture, and Mindshift Capital Fund.

Seed spherical (2019): US$4.6 million from Monde Nissin CEO Henry Soesanto (lead), Y Combinator, Entrepreneur First, AiiM Partners Fund, Big Idea Ventures, AeraVC, Beyond Impact Ventures, Boom Capital, Twynam Investments, and a few angel investors.

Pre-seed spherical (2019): US$500,000 from Y Combinator, AiiM Partners, Boom Capital, and Wild Earth CEO and co-founder Ryan Bethencourt.