June 29, 2020
Singapore’s Shiok Meats has raised USD 3 million in a bridge funding round from Agronomics, US-based VegInvest, UK-based Impact Venture, and UAE-headquartered Mindshift Capital Fund. This brings its total funding to USD 7.6 million altogether to date. The foodtech startup will use the new funds to set up its first manufacturing plant in Singapore, looking to commercialize its business in the next 2-3 years. Currently, the company is still in pre-revenue, r&d phase, creating more prototypes of its cell-based shrimp meat, and aims to bring its production cost down.