Dao Foods Announces Investment in Six Alternative Proteins
SHANGHAI, April 27, 2022 (GLOBE NEWSWIRE) — Dao Foods International today welcomes its third cohort of China-focused alternative protein companies as part of its Dao Foods Incubator initiative. Dao Foods recruited these startups as part of its plan, announced in 2020, to support and invest in 25-30 China-focused alternative protein companies within three years.
The third cohort of Dao Foods Incubator hails from different parts of China and the world, including Zhejiang, Guangdong, Singapore and Canada. This cohort consists of a Chinese cell-based meat company, a microalgae protein ingredient company, a plant-based bakery company and three cross-border companies that are passionate and committed to further developing the industry. alternative proteins in China.
Dao Foods Incubator’s third cohort includes (in alphabetical order):
- Live proteins: Liven Proteins is the first precision fermentation company producing animal-free functional protein ingredients from food industry side streams. A platform technology company, Liven’s premier product line is animal-free collagen and gelatin, which helps protein-rich foods improve their nutritional and sensory profiles to match their animal counterparts. The two co-founders obtained their doctorate. in chemical engineering from the University of Toronto, and one of them, Fei Luo, is from China.
- Lohas Foods: Lohas Foods develops and produces plant-based, hyper-realistic seafood through its three in-house vertical technologies of mycelium, new plant fractions and own-brand additives. Lohas was co-founded by a team of Singapore-based Chinese food scientists and FISH Singapore, a seafood processing and trading company with a listed subsidiary and distribution network in China.
- New Day Farm: With a cutting-edge tissue and organ regeneration and manufacturing team, NewDay Farm aims to apply more than 20 years of regenerative medicine experience in food innovation, focusing on development and production cell-based pork belly for the Chinese market. NewDay Farm enables the development and large-scale production of cell-based animal feed and protein replacement products with two advanced technologies, low-cost growth media and functional three-dimensional scaffolds based on biomaterials. Professor Dai Jianwu, the founder of NewDay Farm, is an accomplished scientist in regenerative medicine, a member of the “Hundred Talents Program” of the Chinese Academy of Sciences and the Secretary General of the Stem Cell Branch of the Chinese Society of Cell Biology .
- ProTi food technology: ProTi Food Tech is a technology company developing alternative protein food products based on microalgae and microbial resources. The company has achieved technological breakthroughs in algae/strain engineering. It has obtained good technical precipitation in fermentation and processing technology links, realizing small-scale production, and is currently establishing a pilot-scale production line. The three co-founders include two Chinese serial entrepreneurs with experience in microalgae and a food science professor specializing in microbial fermentation.
- St. Michael’s Foods: Saint Michal Foods creates tasty foods and beverages from buckwheat marketed and sold under the BUCK™ brand. BUCK is plant-based, gluten-free, and non-GMO, and made from buckwheat with short, clean ingredients. BUCK products are currently marketed and sold in Canada, the United States and Mexico and will soon be available in Australia and New Zealand. Peter (Ting) Yupangco, Founder and CEO, and Jason McIvor, Co-Founder and Managing Director of Saint Michael Foods, are Canadian agricultural technology innovators. Peter developed a passion for the Chinese market while pursuing his studies at Beijing University of International Business and Economics.
- Zero limit: Zero Limit is a Shenzhen-based company that focuses on the production, research and development of plant-based bakery products. Zero Limit is committed to creating healthy bakery products that meet the taste expectations of modern consumers in China. The founder of Zero Limit is a seasoned nutritionist and young mother of two. Its dedication to plant-based bakery has been driving its persistent entrepreneurial spirit since 2018. Zero Limit took the initiative to establish the first plant-based bakery factory in China.
“The alternative protein industry is still quite nascent in China,” said Tao Zhang, co-founder of Dao Foods. “While momentum has been building in this sector over the past couple of years, awareness and adoption of new protein products by the country’s heavy consumers is still not established. The game changers will be the entrepreneurs who will conquer the stomachs and minds of Chinese buyers. We hope that an army of such entrepreneurs can be nurtured and developed through the Dao Foods Incubator to achieve the positive environmental and climate impacts we are working towards in China and from China.
Dao Foods recruited nine start-ups under its China-focused incubator program in cohorts one and two. These businesses encompass fast-growing products and services, including plant-based ready-to-eat foods, plant-based dairy products, plant-based protein drinks for children, plant-based protein products, algae-based protein ingredients, cell-based seafood and mycelium-based protein. Dao Foods’ first investment in China was in Starfield Food and Science Technology Limited, a Shenzhen-based food technology company considered the most dynamic and well-funded next-generation plant-based company in mainland China. Starfield recently closed its $100 million Series B financing and its products have entered more than 37,000 restaurants in China.
About Dao Foods International
Dao Foods International, Inc. is an impact investing company that aims to help entrepreneurs develop exciting alternative protein products in China to reduce consumer demand for animal agriculture. Dao Foods believes that supporting talented entrepreneurs targeting China’s 400 million millennials with exciting and delicious new alternative protein products is a huge business opportunity with massive social and environmental impact. China-based and/or China-focused alternative protein food entrepreneurs contact us at [email protected]
Picture 1: Dao Foods International
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