Green Monday Holdings, a producer of plant-based pork substitute products and frozen meals and an operator of a chain of vegetarian-focused retail outlets and cafes, said it has actually raised$70 million in funding from financiers, consisting of TPG’s The Increase Fund and the massive corporation Swire Pacific.
It’s one of the largest financial investments in a plant-based meat replacement company headquartered in Asia, and comes as investments into business developing options to animal proteins continue to surge.
It’s likewise a substantial infusion of money for business arm of what might be Hong Kong’s biggest vegetarian advocacy group.
Substantiated of a social motion that began in the world Day in Hong Kong in 2012 (and was motivated by the Meatless Monday project in the U.S.), the Green Monday organization advocates for consumers to dedicate at least one day a week to going meatless.
Its creator, David Yeung, is a longtime Buddhist and (mostly) vegetarian who established the company with Francis Ngai, the head of Social Ventures Hong Kong, after a lunchtime conversation over how to promote sustainable living in among the world’s most populated cities.
Other financiers in the round include, CPT Capital, Jefferies Group and Sino Group’s Ng Household Trust, in addition to previous business and celeb investors like Lee Kum Kee Health Products Joy Capital, the singer Wang Leehom, James Cameron and ecological activist Mary McCartney.
Green Monday Holdings, part of the Green Monday Group, operates two line of work under the OmniFoods and Green Common brands. OmniFoods makes pork alternatives and ready frozen meals, while Green Common is a merchant and dining establishment for plant-based items.
The business said it will utilize the cash to broaden into 10 brand-new markets across Asia, Africa, Europe, the Middle East and The United States and Canada, add 20,000 brand-new retail outlets for its products and launch brand-new flagship stores for its Green Common retail areas in China and Singapore.
With the new funding, the company has added an essential strategic partner in Swire Pacific.
“Our airline company Cathay Pacific has been serving OmniPork onboard and we eagerly anticipate collaborating even more to develop new menus to suit the taste of our travelers– a lot of whom have a deep interest in health, wellness and ecological sustainability,” stated David Cogman, Advancement Director, Swire Pacific, in a statement. “We are also in discussion about working together on the retail front: we have a network of shopping malls, hotels and food and drink companies in Hong Kong and on the Chinese mainland, as well as associated supply chain operations across the nation. We are really excited about our partnership with David and Green Monday to establish new partnerships throughout our group companies, to make our shared vision a reality.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.