Good Food Technologies, a Hong Kong start-up that produces plant-based meat, announced the completion of an oversubscribed seed round financing of HK $12 million (about US $1.5 million). Good Food Technologies produces plant products specially designed for Asian cuisine and taste. The new funds will be used to support the upcoming retail business and establish pilot production. After signing food service contracts with companies such as Disneyland over the past year, Good Food Technologies is seeking to launch its Plant Sifu consumer goods series in supermarkets.
Good Food Technologies was founded in 2020. Its initial product research and development focused on Chinese snacks. The company said that the fat of pork is the reason why many dumplings have a symbolic flavor and aroma, which led the founder to develop a proprietary technology called Aromax, a konjac-based packaging technology that can imitate the fat flavor of pork.
Good Food Technologies says it will give priority to the Chinese mainland in the medium and short term. Although the company has not officially developed there, they have tested their products in the market. The upcoming funds will enable this young company to further develop the strategic partnership in mainland China. Good Food Technologies currently has eight plant-based pork products made of soybean protein. Five of them are used for B2B purposes, including meatballs, patties, hamburgers, and minced pork. The other three are in the form of instant dumplings for consumers.