China Deal Monitor: Mock meat startup STARFIELD snags $10m and more updates

Chinese plant-based meat brand STARFIELD on Wednesday announced that it has garnered $10 million in its Series A round of funding led by Sky9 Capital, a Shanghai-based tech-focused investment firm.

Existing investors MatrixPartners China and Joy Capital too joined the round, Sky9 Capital announced on WeChat. MatrixPartners China, Joy Capital, New Crop Capital and Dao Foods International had collectively invested ‘millions of US dollars’ in STARFIELD’s pre-A round in March 2020.

STARFIELD, set up in 2017 in Shenzhen, has rolled out approximately 20 alternative meat products catering to Chinese millennials. It has forged partnerships with over 20 food brands and restaurants.

“We will invest to set up a proprietary research factory in Shenzhen,” STARFIELD said in the statement.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on August 18-19, 2020. 

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