Fintech Simpl eyes 10x growth after announcement of $40 million Series B funding
Founded in 2018 by Ashish Korde and Kevin Parekh, Proeon aims to promote clean and healthy food for 'people, planet, and conscience'. The firm also helps solve critical formulation challenges at the ingredient level, making it easier for food companies to make tastier and healthier plant-based meat, dairy, and egg-replacement products.
The funding round, led by entrepreneur Shaival Desai also saw participation from Flowstate Ventures, Peak Sustainability Venture Fund I (executed by Samir Shah on behalf of the Fund), Waoo Partners (Pratul Shroff family office), and other angel investors. Existing investor, OmniActive Health Technologies Limited MD Sanjaya Mariwala, also participated in this round.
While Flowstate Angel Investment Fund founder Anjani Bansal said Proeon team has demonstrated exceptional technical and strategic capabilities, and is strongly positioned for exponential growth.
Currently, Proeon's is working with brands from Europe, North America, and Southeast Asia to build more sustainable and healthier plant-based alternatives such as highly functional plant-based egg-replacement products, clean-label burgers, patties, and alternative dairy products.
