Singapore’s plant-based meat startup Karana has secured $1.7 million in seed funding from several investors across the region, while Myanmar-based healthtech startup MyanCare has raised $600,000 in funding led by Japan’s investment group SPARX.
SG-based Karana raises $1.7m seed funding
Singapore’s whole plant-based meat startup Karana on Friday announced that it has secured $1.7 million in seed funding from several investors across the region.
Its seed investors include food manufacturer Monde Nissin Corporation’s CEO Henry Soesanto, VC firms Big Idea Ventures and Germi8, and a number of angel investors, including Hong Kong-based food and beverage entrepreneurs Kevin Poon and Gerald Li, and an undisclosed FMCG executive.
The capital will be used to launch its first range of whole plant-based meats and dim sums in Singapore, accelerate its research and development efforts and build a regional food tech team.
Karana is set to launch its pork substitute made from jackfruit in collaboration with some of Singapore’s top restaurants. The product will be available in the retail market early next year.
Myanmar’s MyanCare bags investment led by Japan’s SPARX
Myanmar-based healthtech startup MyanCare has secured $600,000 in funding led by Japan’s investment group SPARX, the firm said in a statement.
Japanese tech information firm Scala and pharmacy and drug store chain AIN Holdings also participated in the round. In 2019, MyanCare had secured an undisclosed amount in pre-Series A funding from SPARX Group.
Founded by two medical experts and a tech professional, MyanCare claims to be the first telemedicine company in Myanmar. The firm operates the MyanCare healthcare app and YinThway paediatric medical call centre services.
“We are serving patients every 7 minutes these days. During COVID-19 period from March to June, we were able to provide quality consultations countrywide and it is still going on,” said MyanCare CEO Zaw Min Tun.
The firm will use the investment proceeds to boost its position in Myanmar’s telemedicine market and expand the coverage of its services.