Germany-based startup Keen 4 Greens has gained €1.8 million in seed funds from FoodLabs, Sustainable Food Ventures and Shio Capital. As the Vegan wave is taking over the world, Keen 4 Green is providing nutritious and tasty meat alternatives made from wheat.
In the future, they want to make a whole cut chicken analogue made from just five ingredients - Mycelium, pea protein, oil, salt and water. By using mycelia from mushrooms, they are using all 8 amino acids essential for humans.
The funds will be used to expand their production facilities, product range and better their growth strategy. They want to develop chicken strips, breaded chicken strips, beef and bacon.
The startup was started by Franziskus Schnabel and Daniel Holstein in 2019. Their current clientele includes restaurant chains like Otto’s Burger, Ruff’s Burger and Vincent Vegan. Germany is the 6th best country for Vegans. The vegan market is seeing a growth of 15% per year and is expected to reach €450 million in 2025.
The European plant-based food sector has experienced explosive growth since 2019. Europe is a key player in the global meat alternative market, which was valued at $1,718.6 million in 2019 and is projected to expand at an estimated CAGR of 7.3% between 2020-2025.