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Today: June 3, 2024
May 23, 2024
1 min read

Peruvian Vegan Startup Raises $320K, Plans Latin American Expansion

TLDR:

  • Peruvian Veef, a plant-based food startup in South America, raises $320,000 in first funding round
  • The company aims to expand its foodservice and retail operations throughout Peru and into other Latin American countries

Peruvian Veef, a plant-based food startup in South America, has secured $320,000 in its first funding round, led by US-based venture capital investors. The funding round included contributions from Ahimsa Foundation and Sustainable Food Ventures, as well as a non-dilutive government grant from ProInnovate Peru. The company, founded by Karina Zegarra, focuses on affordable, locally-made plant-based meat alternatives and has developed a range of 11 products inspired by Latin American cuisine.

The company has established a significant presence in the local market, with its products available in over 70 stores and leading sales at Peru’s specialty store chain, Organa. Peruvian Veef plans to use the new funds to expand its operations throughout Peru and into other Latin American countries such as Chile, Colombia, and Mexico.

Linda Obregon, co-founder and CSO of Peruvian Veef, expressed excitement about the investment, stating, “We are thrilled to have Ahimsa Foundation leading this round of investment. Their expertise and track record in the industry align perfectly with our vision to create sustainable and impactful solutions for the food industry.” The company also received support from Sustainable Food Ventures, led by investor Ryan Bethencourt.

Peruvian Veef aims to capitalize on the growing demand for plant-based meat alternatives in Latin America, with projections indicating significant market growth in the region. The company’s innovative production processes and unique texturing methods set their products apart in the market, providing a consistent, scalable, and appealing alternative to traditional meat products.

Overall, Peruvian Veef’s successful funding round sets the stage for its expansion and further solidifies its position as a leading player in the plant-based food industry in South America.

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