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SUPPLIERS | Staff Reporter, China

Australia's v2food bags funding from ABC World Asia

It is looking to launch its plant-based meat products globally.

Australian plant-based meat startup v2food has clinched private equity fund ABC World Asia to join its $55m Series B funding round. This round of funding raises v2food’s total funds to $80m.

Other investors participating in this round include Altitude Partners, China Renaissance, Esenagro, Horizons Ventures, Marinya Capital, Main Sequence Ventures, Novel Investments, and Temasek.

With this funding, v2food is looking to expand its team and production facility in Wodonga, Australia, as well as launch its products globally into new markets including Asia.

So far, v2food is exploring distribution and retail partnerships with supermarkets and quick service restaurant outlets in Singapore, Thailand, and China.

Founded in 2019 as a partnership between Australia’s national science agency CSIRO, Main Sequence Ventures and Competitive Foods Australia, v2food uses protein extracted from legumes to create ‘mince’ that looks and tastes like meat.

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