Betagro PCL, a leading Thai integrated food company, has announced its participation in Plantible's Series B funding round through its venture capital arm, Betagro Ventures. This investment marks a significant step towards shaping the future of sustainable food systems.

A $30 Million Investment in Sustainable Food Solutions

The $30 million Series B round was co-led by Piva Capital and Siddhi Capital, with participation from prominent investors including Betagro Ventures, Chipotle Mexican Grill, Griffith Foods, and Astanor Ventures. This funding round represents the largest investment in a functional ingredient startup to date in 2024.

Plantible: Harnessing the Power of Lemna

Founded in 2018, Plantible is a California and Texas-based company that specializes in producing Rubi Protein®, a versatile and functional ingredient derived from lemna. Lemna, a type of aquatic plant, is known for its sustainability and high nutrient density. Plantible utilizes a proprietary and vertically integrated lemna manufacturing platform to produce Rubi Protein®, which has applications in plant-based foods, traditional meats, and bakery products.

Expanding Production and Market Reach

The Series B funding will enable Plantible to expand its manufacturing volume at its 100-acre commercial plant and achieve a tenfold increase in revenue over the next 12 months. This expansion will allow Plantible to meet the growing demand for sustainable and high-quality protein sources.

Betagro's Strategic Investment and Collaboration

Betagro's investment in Plantible, coupled with planned collaborations, will support the company's food and feed businesses in partnering with innovative startups to create sustainable and clean-label products. Betagro aims to explore the use of Plantible's technology within its diverse product portfolio.

Chayadhorn Taepaisitphongse, Chief Strategy & Innovation Officer of Betagro Group, highlighted the strategic rationale behind the investment, stating, "Plantible epitomizes the type of startup we look for: strong technology-driven platform, high strategic impact potential, and clear synergistic use cases. Tony (CEO) and Maurits (COO) are at the forefront of bringing lemna-based functional ingredients to market, and we are excited about the potential of our ongoing collaborations to explore their technology within our core food and feed businesses."

Plantible's Vision for a Sustainable Future

Tony Martens Fekini, Chief Executive Officer of Plantible, expressed his enthusiasm for the partnership, saying, "We're thrilled to welcome Betagro as a strategic partner in Plantible's journey to transform the global food system. Their investment underscores the incredible potential of bringing Rubi protein to the Southeast Asian market, a region where the demand for stable, resilient, and high-quality macronutrients is both urgent and significant. With Betagro's deep expertise and leadership in the agri-food space, we are confident in our ability to scale quickly and make a meaningful impact in a region hungry for sustainable solutions. We couldn't ask for a better partner to help us realize our mission of building a more sustainable and secure global food system.