Veganta Raises Funds for Plant-Based Meat Expansion

New Delhi, Mar 4 (PTI) Startup firm Veganta, manufacturer of plant-based meat alternative, on Tuesday said the company is looking for investors for expansion of its business across the country.

Bengaluru-based self-funded company is eyeing "Rs 25 crore investment to scale up production capacity and expand the product reach in India," the company's founder and director Chandrashekhar told PTI.

Established in 2021, the company, after two years of R&D, launched its product line at the 2024 AAHAR global food fair in the national capital.

In the first year, Veganta is expecting its revenue to touch Rs 1 crore in the current fiscal, he said and added the company is now planning to expand further in order to tap the rising demand for plant-based meat.

"We have not diluted our stakes. We are looking for an investment of Rs 25 crore for our expansion plans," he said.

The company plans to launch a retail brand and Veganta cafe for end-customers, besides exploring export.

So far, the company has invested about Rs 25 crore and has 18 products, including seekh kebab, meat balls, burger patty, sandwich fillings and momos with a production capacity of 100 kg per hour.

Currently, the Veganta products are available in Karnataka, Andhra Pradesh, Kerala, Delhi, Maharashtra and Odisha.