ProVeg International & Veg Capital Team Up To Accelerate Food Tech Funding

ProVeg International and Veg Capital have partnered up to invest in food techs who are developing alternative proteins and sustainable food solutions. Together, the two organisations have already invested in two ProVeg Incubator alumni firms, and have announced yet another funding package to plant-based desserts startup Zveetz. 

Sustainable food nonprofit ProVeg International and venture capital firm Veg Capital, who was founded by Veganuary co-founder Matthew Glover and donates all its profits to animal and environmental charities, will be teaming up to ramp up investment into food techs. Their latest joint investment is Zveetz, a Berlin-based sugar-free vegan desserts startup that graduated from the ProVeg Incubator last year. 

Zveets bagged a funding package of €180,000 (US$218,000), which will help co-founders Christian Krause and Vishal Kawatra scale-up their operations. 

We are on cloud nine right now and super grateful to have the combination of ProVeg and VegCapital, as the first institutional investment for our seed round closing this week.

Vishal Kawatra, Co-Founder, Zveetz

Speaking about the investment, Kawatra said: “We are on cloud nine right now and super grateful to have the combination of ProVeg and VegCapital, as the first institutional investment for our seed round closing this week. We are seeking best in class investors and it was clear that the combined value of both organisations provides a degree of capacity building that I have yet to see elsewhere in Europe.”

Veg Capital and ProVeg have also previously invested together in two other alumni companies of the incubator, including Swedish plant-based seafood startup Hooked and Israeli food tech Remilk, who makes alternative dairy using microbial fermentation. The funds will help Hooked launch its first vegan tuna product in its domestic market, while Remilk says the capital will go towards bringing its molecularly identical animal-free dairy products to market.

Veg Capital is delighted to partner with ProVeg Incubator. As organisations, we are fully mission-aligned in exclusively supporting pioneering companies that are striving to replace animals in the global food system.

Matthew Glover, Managing Director, Veg Capital

“By investing in innovative and impactful food startups such as Zveetz, Hooked, and Remilk, ProVeg is driving the positive change that our food system desperately needs,” said Sebastian Joy, president of ProVeg International. 

“Veg Capital is delighted to partner with ProVeg Incubator. As organisations, we are fully mission-aligned in exclusively supporting pioneering companies that are striving to replace animals in the global food system,” added Matthew Glover, managing director of Veg Capital. 

“All of the profits that are made through our collaboration will be donated back to ProVeg – a virtuous circle of positive change for animals and the planet.”

Lead image courtesy of Oumph!.