Monde Nissin chief executive Henry Soesanto has put money into fledgling Philippines alt-meat business WTH Foods.
Soesanto and Big Idea Ventures – an alternative-protein venture fund and accelerator – have taken part in a seed funding round at WTH Foods, which already markets plant-based meat products, included ground meat and an alternative to canned corned beef, in retail stores.
Manila-based WTH Foods, set up in 2019, said it had raised US$1.2m. Co-founder and CEO Stephen Co added: “This funding will help us accelerate the development of these products and reach more markets across south-east Asia and around the world so people can enjoy popular dishes guilt-free.”
Next year, the company is set to a new range of plant-based processed meat products, including sausages and luncheon meat.
As well as leading Monde Nissin – the owner of UK meat-free business Quorn Foods – Soesanto has invested in a range of up-and-coming firms offering alternatives to traditional meat and dairy products.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSo far, Soesanto’s investments include Swedish plant-based cheese maker Stockeld Dreamery, Singapore cell-based shrimp maker Shiok Meats and Future Meat Technologies, which is developing cell-cultured meat.
