Plant protein startup Proeon raises funding to tap multibillion-dollar mkt

The plant-based proteins sector is projected to reach nearly $200 billion by 2027

Pune-based food ingredient start-up Proeon, said it recently raised Rs 17.5 crore as seed capital. The firm said it is committed to building a sustainable and environmentally friendly food ecosystem. 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), and Waoo Partners (Pratul Shroff family office).

Existing investor Sanjaya Mariwala, MD of OmniActive Health Technologies Limited, also participated in this round. The funds will be used to enhance growth and set up a research lab in the Netherlands, Europe, filing IP