The funds will be utilised to enhance growth and scaling up production
Pune based food ingredient startup Proeon has recently raised $2.4 million as seed capital. The funding round, led by entrepreneur Shaival Desai, also saw participation from Flowstate Ventures, Peak Sustainability Venture Fund I, Waoo Partners, and other angel investors.
Existing investor Sanjaya Mariwala, MD of OmniActive Health Technologies Limited also participated in this round. The funds will be utilised to enhance growth and set up a research lab in the Netherlands, Europe, filing IP, scaling up production and expanding the team.
The startup helps solve critical formulation challenges at the ingredient level, making it easier for food companies to make tastier and healthier plant-based meat, dairy, and egg replacement products.
Currently, the company is working with brands from Europe, North America, and Southeast Asia to build more sustainable and healthier plant-based alternatives.