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Auckland-based vegan ‘chicken’ producer Sunfed Meats is raising its venture capital to expand production in a bid to meet growing local and global demand.

The brand, which is regularly sold out across New Zealand, is currently seeking investments as part of a series ‘A’ capital raise.

While Founder and CEO Shama Lee declined to disclose the amount they are after, the company has previously raised $1.5m to commercialize its product, Chicken Free Chicken.

The startup – which debuted in stores in July last year and sold out on launch day – produces ‘clean’ plant-based alternatives to meat from pea protein.

Capital raise

According to the company, the capital raise has been extended to cater to ‘major interest’.

“Our preference is for strongly-aligned and strategic investors who can accelerate Sunfed’s growth and add to our global vision,” Lee told industry outlet FoodNavigator-Asia.

Particularly the US, UK, and Australia have been showing strong interest for the meat-free brand.

Demand

Now Sunfed plans to up its production 100-fold in a bid to start servicing international demand.

“We have more demand than we can meet from all sides of the business: retail, wholesale, and fast food, and it keeps growing.

“It has all been organic word-of-mouth, which speaks about the product.”

Sunfed Chicken Free Chicken is currently sold in 63 outlets across New Zealand.

Sunfed’s products are made using only six ingredients and water (Photo: Sunfed Meats)?
Sunfed’s products are made using only six ingredients and water (Photo: Sunfed Meats)?

New products

The company is currently working on new product releases, including Pig Free Bacon and Cow Free Beef – with the launch date yet to be confirmed.

The new products will have the same properties Chicken Free Chicken has: soy-free, preservative-free, GMO-free, cholesterol-free, and trans fat-free.

Sunfed Meats – which is built on three axioms, ‘good for us, good for the planet, good for animals’ – claims to have the ‘cleanest, most minimalist ingredient deck on the global market’, using only six ingredients and water.