Indonesia: Plant-based start-up Green Butcher gets seed funding from Unovis

Green Butcher is Indonesia’s first plant-based food producer and founded by the owners of Burgreens, the largest plant-based restaurant chain in the country

Unovis Asset Management has announced the closing of its investment in Indonesia-based start-up Green Butcher. The company is developing plant-based alternatives to chicken and beef using natural, wholefood ingredients.

The seed round funding will be used to support additional R&D hiring and help Green Butcher scale its production in anticipation of a launch into mainstream retailers in the second quarter. Unovis made this investment through its New Crop Alternative Protein fund.

Green Butcher was founded by Max Mandias and Helga Angelina, the co-founders of Burgreens, the largest plant-based restaurant chain in Indonesia. The start-up is creating plant-based products that are specifically developed to go well with Asian comfort food.

“Green Butcher is doing important work in Indonesia and we are honoured to be able to support their ongoing growth and development in an often-overlooked segment of the alternative protein market,” said Kim Odhner, managing partner, Europe & Asia, at Unovis.

Odhner noted that Angelina and the entire team have made impressive progress over the past year. “Unovis aims to leverage its unique experience and industry position to help launch this innovative plant-based powerhouse to a global audience,” he said.

Green Butcher: Product line

Green Butcher’s signature products include Chick’n Satay, Chick’n Karaage, Beefless Chunks, Beefless Rendang, and Shroom Balls – all ready-to-cook.

“We’re seeing increased interest in plant-based foods across Asia,” said chief executive Angelina, noting the company is focusing on the unique culinary experiences of Indonesia and South East Asia, and plans to recreate many local favourites using ingredients like mushrooms, GMO-free soy, chickpea, and seitan.

Angelina explained: “This investment will help us take advantage of the opportunity we see to become the leading consumer brand for plant-based foods that are tailored to the Asian palette.”

Chris Kerr, Unovis founding partner and chief investment officer, explained that Unovis’ mission is to transform the global food system by investing in solutions that facilitate sustained behavioural change and reduce dependence on animal protein products. “We are focused on disrupting the $1.7-plus legacy protein market by supporting the companies that are developing animal-free alternatives from seed to growth stage,” he concluded.