Plant-based meat brand Shaka Harry raises US$ 2 Million in seed funding

Other investors include; Dexler Holdings, Chef Manu Chandra and a group of domestic family offices and angel investors.
  • Nusra Deputy Features Editor
Funding

Liberate Foods Pvt. Ltd., a plant protein company with a meat alternate line, Shaka Harry has received a total investment of US$ 2 M  in  seed funding round led by Better Bite Ventures, Blue Horizon and venture debt fund - Panthera Peak.

Other investors include; Dexler Holdings, Chef Manu Chandra and a group of domestic family offices and angel investors.

Shaka Harry offers a range of meal and snacking products which are designed around the Indian cuisine and palate. The range includes; snackables and meal accompaniments. The product has a distinct advantage with access to proprietary taste and flavour solutions coupled with the brand’s partnership with Chef Manu Chandra, one of India's top chefs.

“It is the most exciting time to launch a consumer brand on the smarter protein platform. We are already the best performing brand in the online stores where we have presence,” shared Anand Nagarajan, Co-founder, Shaka Harry.

“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. That’s where Shaka Harry has been able to make a difference,” added Sandeep Devgan, Co-founder, Shaka Harry.

The company has a monthly customer base of 25,000. The monthly growth expected for the next few quarters is around 20 to 30 per cent.

As an Asian alt-protein fund, Better Bite Ventures invests in early-stage startups creating a more sustainable food system in the most populous region in the world. And as such, we're particularly optimistic about India's opportunity. The nation has a clear opportunity to become a regional leader in plant-based foods and leapfrog other countries in adopting climate-friendly smart proteins, driven by a growing movement of conscious consumers motivated by taste, health and the environment. Which leads us to our investment in Shaka Harry,” pointed Simon Newstead, Founding Partner, Better Bite Ventures.

Shaka Harry aims at aggressive growth over the next 5 years. Shaka Harry range of products are available across Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Pune, Ahmedabad and Gurgaon.

If I could convert from a skeptic to a believer in plant based futures, I’m sure, so could a lot of you. We’ve come such a long way from the once dreaded rubbery substitutes with dubious processes - to clean labelled and delicious alternatives. Intervening as a chef to take the Shaka Harry product ranges to the next level of taste and texture has been an enriching experience, in realising how far this category can be pushed. The future is plant based, start now,” said Chef Manu Chandra.

India is becoming an increasingly lucrative market for plant-based meat startups, with a large population of non-vegetarians looking to cut down their meat consumption due to a combination of concerns like sustainability and health.

Shaka Harry has a large assortment of plant based "Ready to Eat" foods range for customers looking to substitute/ supplement their meat intake with plant-based foods. The goal is to offer Shaka Harry as a healthy and tasty meat alternative and to deliver Shaka Harry products to every Indian household to begin a trial.

Liberate Foods is founded by proven founders with prior experience and success in scaling businesses in India and globally. The co-founders include Anand Nagarajan, Sandeep Devgan, Hemalatha Srinivasan, Ruth Renita and Anoop Haridasan. The cofounders and leadership team consists of specialist, functional leaders with extensive experience in the food sector.

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