Shiok Meats, Southeast Asia’s first cultivated seafood & meat company, and the world’s first cultivated crustacean meat company, today announced the addition of two new, strategic investors – Cultured Seafood Investors LLC run by Sandiip Bhammer, a prominent investor in sustainability start-ups focused on agri-food, agritech, and novel foods and Yi Sung Yong, CEO of Grain, a Singapore-based multi-brand cloud kitchen that leverages data and tech.
“We are so excited to welcome two brilliant partners on this journey. While Sung brings in the zest and passion for FoodTech innovation given his success with Grain, Sandiip is a visionary investor known to value impact and growth in sustainable ventures. We are confident that their invaluable support will help us take the next step in bringing novel foods to market as the competition heats up and mid-scale production looks closer than it used to. With our strategic bridge round, we are intentionally adding a layer of eminent investors who could potentially help us with global expansion, partnerships, and exposure.”, shared Dr. Sandhya Sriram, CEO & Co-founder of Shiok Meats.
Asian food giants Woowa Brothers, CJ CheilJedang Corporation, and Vietnam’s top seafood exporter Vinh Hoan Corporation backed Shiok Meats in the same bridge round – the company has raised approximately US$30 million till date.
Since being founded in 2018, the start-up has made significant progress in a short span. It showcased the world’s first cultivated shrimp, lobster, and crab prototypes consecutively in exclusive tasting events in 2019, 2020, and 2021. The company currently employs 30+ scientists, engineers, food technologists, and business professionals and intends to launch in Singapore in 2023.
This article first appeared in Food Matters Malaysia.