Haofood To Advance R&D Innovation For Their Plant-Based Chicken

Wednesday, April 13th, 2022 | 539 Views

Haofood - Sichuan Peanut Sauce Chicken

Shanghai-based food science and technology start-up secures funds from CEO of Monde Nissin, Rich Products Ventures and Big Idea Ventures

Haofood, the world’s pioneer in the development of plant-based chicken from peanuts, recently announced that it has raised US$3.5 million in a seed round where among the co-investors are Henry Soesanto, CEO of Monde Nissin, Rich Products Ventures and Big Idea Ventures.

“We are honoured to have received backing from investors who share our passion for creating plant-based chicken alternatives that are not only sustainable but that people enjoy. Our team of experienced food industry professionals developed proprietary technology, The Innotein™, to create a variety of plant-based chicken from peanuts and other plant proteins that has a distinctive texture and umami taste profile. With this round of funding we will be able to innovate further and make excellent quality alternative protein products more accessible for consumers in China and across Asia,” shared Astrid Prajogo, Founder & CEO of Haofood.

The fresh funds will be used to double down on Haofood’s ambitious goals, including diversifying its channel sales strategy and advancing its R&D infrastructure facility to grow the domestic business and expand to Asia and beyond. The new facility will enable Haofood to innovate further and improve its product portfolio – to offer consumers a variety of products that enrich their culinary experience and complement their modern lifestyle.

“The consumers today demand healthier and more sustainable foods, the creative use of peanuts gives Haofood’s chicken its great taste but it also has even more benefits to the environment in terms of reduced water usage. It stood out to me for its clever use of food technology where they have been able to develop a product that in such a short space of time in development,” added Henry Soesanto.

“Haofood’s robust R&D and proprietary technology gives it a competitive advantage, winning over discerning Asian consumers with its great-tasting and sustainable chicken alternative products. This is our first direct strategic investment in the Asia Pacific region and we look forward to working closely with the team to scale the business in China and beyond,” added Jay Lin, VP of Strategic Investments APAC at Rich Products Ventures.

“The team behind Haofood is its driving strength. A truly diverse set of people from the food and retail industry are working together and innovating at the cutting edge. We are excited to join them on their very fast-moving journey to global growth,” added Christian Cadeo, Managing Partner Asia at Big Idea Ventures.

Haofood: Great-tasting, nutritious and environmentally friendly

Haofood produces innovative plant-based chicken using the by-product of a major industry in China as its primary ingredient – peanuts. Using Innotein™, which is an innovative end-to-end proprietary technology, the team behind the food science and technology start-up creates the modified textured peanut and other plant-based protein that makes up its final product. This results in a high-quality plant-based chicken with a stronger umami sensation, without adding MSG.

Shanghai-based Haofood was founded in mid 2020 by the four co-founders – Astrid Prajogo, Dr Shaowei Liu, Jenny Zhu and Kasih Chen. The leadership team now has expanded and consists of senior professionals from the food industry in China with an average of 15+ years of experience from big name international food retail and producers.

It first launched in China to consumers in July 2021 with an Asian fried chicken alternative. With more than 50 different brands under its portfolio, Haofood’s range of products are now available at more than 200 outlets across China.