Chinese artificial meat startup Starfield has recently completed an undisclosed round of financing, taking in tens of millions of RMB, local media 36Kr reported on Thursday.
US-based New Crop Capital, an early investor of the world’s biggest meat substitutes maker Beyond Meat, and its China-focused investment partner Dao Foods International have participated in this round, along with Joy Capital, and Matrix Partners China.
Proceeds of this round will be used for Starfield’s product development, market expansion, and supply chain management, according to the company’s founder Kiki Wu.
Founded in 2019, Starfield focuses on the development of artificial meat made from bean protein, with an aim to imitate real meat in color, smell, taste, and texture. The company has partnered with restaurants and merchants to showcase their products to Chinese customers, including pizza chain Papa Johns, and tea brand Nayuki.
36Kr is KrASIA’s parent company.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.