Betagro PCL, through its venture fund subsidiary Betagro Ventures, has invested in Plantible Foods, a US-based functional ingredient startup, as part of a $30 million Series B funding round. The investment signals Betagro’s commitment to driving innovation in sustainable food systems and advancing clean-label solutions in Southeast Asia and beyond.
Co-led by Piva Capital and Siddhi Capital, the Series B round is the largest functional ingredient startup funding of 2024, drawing participation from prominent investors including Chipotle Mexican Grill, Griffith Foods, and Astanor Ventures.
Founded in 2018, Plantible leverages its proprietary lemna (duckweed) manufacturing platform to produce Rubi Protein®, a versatile functional ingredient used in plant-based products, traditional meats, and baked goods. This funding will support Plantible’s scaling efforts, enabling a 10-fold revenue increase within 12 months and expanding manufacturing capacity at its 100-acre commercial facility in Texas.
Strategic Partnership with Betagro
Betagro’s collaboration with Plantible aligns with its strategic focus on innovation and sustainability. Chayadhorn Taepaisitphongse, Chief Strategy & Innovation Officer of Betagro Group, praised Plantible as a model partner for its technological strength and synergistic potential within Betagro’s food and feed businesses.
“Plantible epitomises the type of startup we look for: strong technology-driven platforms, high strategic impact potential, and clear use cases. Their leadership in lemna-based functional ingredients offers exciting possibilities for integrating their technology into our product portfolio,” said Chayadhorn.
A Sustainable Vision for Southeast Asia
Plantible’s CEO, Tony Martens Fekini, highlighted the importance of the Southeast Asian market in advancing the company’s mission. “We’re thrilled to welcome Betagro as a strategic partner. Their expertise in the agri-food space will accelerate our efforts to bring Rubi Protein to a region where the demand for sustainable, high-quality macronutrients is urgent and growing.”
Martens added that this partnership would help address the pressing need for resilient food systems in Southeast Asia, where population growth and climate challenges are intensifying demand for sustainable solutions.
Driving Food System Transformation
This investment marks another step in Betagro’s mission to lead in sustainable food innovation. The company continues to explore collaborations with startups to develop clean-label and specialised products, supporting its growth in the global food market.
As Plantible scales its operations and expands into Southeast Asia, the partnership highlights the transformative potential of combining technological innovation with strategic investment to build a more sustainable global food system.
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