Sydney-based All G Foods has secured a multi-million dollar investment from the supermarket giant Woolworths.
Australian plant-based meat start-up has added Woolies to its investment roaster; looking to develop its alternative protein products.
The supermarket giant has invested “multi-million” dollars to the company to help build a large precision fermentation facility to develop dairy proteins that can be added to milk and other dairy products.
Dairy proteins are used in an increasingly diverse variety of ingredient for functionality, but with consumer focus on health and nutrition rising, these ingredients are also used widely to increase nutrition also.
While there are various different sources of protein, both animal and plant-based, there is stark variance in terms of nutritional quality. In a recently held global seminar, experts deliberated on the fact that protein especially whey protein are a complete source of essential amino acids and the leading source of leucine. While other foods may also contain leucine, the amount of food product consumed and corresponding caloric intake would be higher, making whey proteins a convenient and efficient choice for health. It is interesting that lactose intolerant individuals can also use dairy protein in their diet and get the essential nutrition conveniently.
Dairy proteins are used in an increasingly diverse variety of ingredient for functionality, but with consumer focus on health and nutrition rising, these ingredients are also used widely to increase nutrition also
The plant-based meat start-up was founded in 2020 by Jan Pacas, started with its plant-based Love BUDS burger patties. Over time, the start-up received immense support from different investors because of its successful products. Currently, love BUDS burger patties are available in 300 retail locations and hundreds of foodservice outlets.
Meanwhile, the start-up is eyeing the plant-based dairy segments. The Australian start-up looking to use precision fermentation to make dairy proteins that can be added to a range of dairy products as addition of dairy proteins will enhance the nutritional value of the food and also its flavor
All G Foods believes that investment from Woolworths would help the company to build precision fermentation in two to three years of time.
This is not the first time that Woolworths has invested in an Australian alternative-meat company. Last year, the supermarket giant invested in B2B plant-based meat producer Harvest B. Woolworths is also looking to bring a different range of plant-based meat in the stores.
“The W23 investment into our company assures us to do well and allows working with Australia’s prominent leaders,” Jan Pacas said.
“We aim to continually grow in our field and provide the nutritious products that meet our growing consumer demand.”
Pacas is delighted to work with different investors and believes that the company is well-balanced having partnered with different organisations.
By Substituting meat with plant-based protein alternatives, CEO Pacas believes it will benefit the planet, given how people consume meat nowadays.
After the tie-up, Pacas will remain the majority shareholder, confirmed ALL G Foods’ spokesperson.
The writer is a journalist and entrepreneur