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Hong Kong’s Avant Meats Closes US$3.1M Seed Round To Commercialise Cultivated Fish In 2021

Friday, December 4, 2020


(Green Queen by Sally Ho) - Hong Kong-based Avant Meats, the city’s only startup working on cell-based protein, has just closed a US$3.1 million seed funding round. Avant received backing from prominent regional and international investors, including the chairman of the world’s largest responsible tilapia producer. The food tech says that the financing will help accelerate its scale-up plans towards the commercialisation of its cultivated fish in 2021. 

Announced on Thursday (December 3), Avant Meats’ US$3.1 million seed round saw participation from major investors across the Greater China region, including China Venture Capital, Hong Kong’s first SFC-licensed startup investment platform AngelHub and ParticleX, as well as global leading alternative protein venture capital firms Lever VC, CPT Capital, Artesian, Loyal VC and 208 Seed Ventures. Notably, Markus Haefeli, the chairman of leading tilapia fish producer Regal Springs also backed Avant Meats in the round in a strong show of support for the cultivated seafood industry. 

Commenting on their successful funding, Avant Meats co-founder and CEO Carrie Chan said: “Avant is pleased to be partnering with strategic investors who can support us with manufacturing know-how, customer relationships, and ongoing support. We will accelerate our work with the sustainable seafood and functional protein industries to accelerate adoption of our products into existing global supply chains.”

 

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