Plant-Based Review App abillionveg Announces US$3 Million Pre-Series A Round & Partnership With Impossible Foods
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Singapore based plant-based review and discovery app abillionveg has closed a pre-Series A funding round totalling US$3 million with injections by Hong Kong’s Nan Fung Group, CloudKitchens and York Capital. In addition, Twitter’s head of Asia-Pacific, Maya Hari, has joined as an investor and advisor to the company. The startup also announced new partnerships with leading global plant- based meat company Impossible Foods and Southeast Asian restaurant booking platform Chope.
abillionveg is an Asia-based food tech app featuring community reviews for vegan and vegetarian restaurant dishes and products. The young startup, founded in 2017 by former hedge fund manager Vikas Garg, has as its founding mission the goal to convert a billion people to a plant-based lifestyle over the next decade. So far, the social and peer review community has amassed over 250,000 members across the world with strong presences in Asia and Europe.
The new injection brings the company’s total funding to US$6 million, an eye-popping figure in Asia’s burgeoning plant-based ecosystem. The Singapore headquartered company has previously raised US$2 million in seed money from Zurich-based Blue Horizon Ventures and New York-based 1/0 Capital, as well as gender-equality activist and Room to Read founder John Wood, who also joined as an advisor.
Since the app launched in 2018, abillionveg’s community has reviewed over 20,000 consumer products brands and 35,000 restaurants worldwide. A unique feature of the app is their donation-based – for every plant-based menu items, vegan food and cruelty-free retail product review, users accumulate credits that turn into donations for non-profit organisations working on animal welfare and sustainability issues.
We’re excited to welcome our new investors and work alongside Impossible Foods & Chope to accelerate our mission of helping a billion people around the world make better choices for the planet.Vikas Garg, Founder & CEO
According to the company, the new funds will be used to double their 20-person team at their Singapore office, with a focus on engineering, product and growth expert hires.
The announcement also came with news of the company’s new strategic partnerships with Impossible Foods and Chope. abillionveg is collaborating with the food tech leader to help them launch their now world-famous innovative meat alternatives into thousands of restaurants across Singapore, which will consist of training, unique collaboration opportunities, and marketing support for F&B outlets. The startup is also working with restaurant booking platform Chope to enable Singaporeans to select meatless dishes at nearly 3,000 eateries across the country.
“We’re excited to welcome our new investors and work alongside Impossible Foods & Chope to accelerate our mission of helping a billion people around the world make better choices for the planet,” founder & CEO Vikas Garg said in a press release sent to Green Queen.
Lead image courtesy of abillionveg and designed by Green Queen Media.