Plant protein maker Evolved Foods raises ₹7.5 cr in seed funding

Evolved Foods, a plant-based protein company, has announced the closing of its Rs 7.30 crore seed round.

The seed funding was led by Zerodha-backed Rainmatter Health and Kamala Capital. The round also saw participation from Anvitha Prashanth (Anyaa Ventures) and Aprameya Radhakrishna (Founder of KOO App); And a group of angel investors like Rachel Goenka and Karan Khetarpal (Goenka Ventures Family Office), BG Mahesh (Former Founder/Managing Director of, Sushant Arora (Founding Partner of CleanMax Solar), Swapnil Shah (Former Brand Head), Proctor & Gamble), and the Vananam Ventures Trust, the company said in a statement.

vegetarian meat

Evolved has developed plant-based meats, which use ingredients like soy protein, coconut, and rice.

Roma Roy Chowdhury, Founder and COO of Evolved, said, “We embarked on this journey with an ambitious mission to create a product that not only delivers cleaner, leaner protein but also complements the spices and our culinary culture. Our flagship product is the result of three years of research and development and countless experiences. “With the infusion of funds, we will be able to build efficiencies across production and supply chain processes and accelerate towards the next phases.”

Dilip Kumar, of Rainmatter Health, said, “Most Indians don’t get enough protein from their diets, and that’s a problem. Common sources of protein like meat also have a high carbon footprint. The approach Evolved Foods is taking is to address this with innovative plant-based foods. Rich in protein with an eye for carbon footprint that really resonates with us. And we’re excited to join them on this journey.”

Pradeep Rao, CEO, EvolvedHe stated, “Consumer demand for plant-based and protein-rich food options is growing exponentially, in both the domestic and international markets. Our mission is to make every meal energetically delicious in a healthy and sustainable way. We are pleased with the conviction of our investors in the space and the company. This investment will support us in accelerating our growth plans , and helps us to benefit from a strong pipeline of orders from both domestic and export markets. Through our range of offerings, we intend to take India to the world.”

According to a recent industry report jointly released by Deloitte and The Good Food Institute India, the combined domestic and global market size of Indian vegetable protein companies is expected to reach ₹12,708 crore by 2030.