Jubilant Ingrevia invests Rs 4.25 Cr in plant-based meat startup Mister Veg Foods

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Mister Veg Foods is on a mission to produce delicious, healthy, guilt-free meat alternatives

Following Jubilant FoodWorks Ltd’s foray into plant-based meat in December 2020, with the launch of the Domino’s ‘Unthinkable Pizza’ with 100% plant-based protein mince, Jubilant Ingrevia Ltd – a global integrated life sciences products and innovative solutions provider part of the Jubilant Bhartia Group – has announced an investment of Rs 4,25,00,000 ($570,000) in Faridabad plant-based meat startup Mister Veg Foods Pvt Ltd.

Mister Veg Foods is on a mission to produce delicious, healthy, guilt-free meat alternatives using the power of plants. MisterVeg was previously incubated at the ProVeg Incubator, the world’s leading accelerator for plant-based and cultured food startups. MisterVeg has developed a range of ready-to-eat plant-based meat and seafood products for the domestic and global market.

The sector of plant-based meats is soaring globally, with research from the global non-profit network Good Food Institute showing $2.1 billion in investments in 2020 – three times as much as in 2019 – thanks in part to a growing appetite for climate-friendly investments with returns beyond the bottom line.

Varun Deshpande, Managing Director, Good Food Institute India: “Statements of intent like Jubilant Group’s are the clearest sign yet that the Indian smart protein ecosystem is on the verge of taking off. Plant-based meats have transformative potential for human and planetary health, and large corporations and QSRs like Jubilant Group/Domino’s can help bring this innovation to the mass market in the form of the delicious foods we know and love. We believe they should be lauded for taking bold steps in plant-based meat with these investments, and look forward to continuing to support their forays in the space.”

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