Starfield Food and Science Technology Limited, a Chinese developer of plant-based proteins, recently has completed its Series A round of financing, raising tens of millions in USD.
The investment was led by Sky 9 Capital, and followed by the former investors including JOY Capital and Matrix Partners China. Scale Partners served as the exclusive financial advisor for the financing.
According to Starfield, this round of financing will be used mainly for product research and development, high-end technical talents recruitment, supply chain improvement, and brands and operations team promotion.
Besides, Starfield Food will establish a plant-based meat laboratory in Shenzhen City, covering an area of 3200 square meters. The laboratory will be responsible for enriching the flavor as well as the application scenarios of the plant-based alternative meat.
Currently, Starfield has developed approximately 20 products, which can be divided into two categories—frozen meat and fresh meat. The products are developed into various flavors including beef, chicken, pork, and seafood, and are sold in different forms including chunks, pies, balls, and mince.
Despite light food and western-style food, the Starfield meat can be used for diverse Chinese cuisine too. In order to attract more customers from different niche markets, Starfield perseveres in launching four new products per month.