Shiok Meats, a Singapore-based cell-based meat company producing an alternative to shrimp, has raised $12.6m in its series A round from a consortium including Japan-based packaging group Toyo Seikan Group.
Investment fund Aqua-Spark led the A round, which also included VCs Seeds Capital, Real Tech Fund, Irongrey, Yellowdog Empowers Fund, Ilshin, Veg Invest Trust, Makana Ventures, AiiM Partners, Beyond Impact, and angels Kelvin Chan Siang Lin, Alex Payne, and Nicole Brodeur.
Shiok raised $3m earlier this year in a bridge round from Agronomics, VegInvest, Impact Venture, and Mindshift Capital Fund, according to news provider TechInAsia. Last year’s seed round raised $4.6m from Monde Nissin CEO Henry Soesanto (lead), Y Combinator, Entrepreneur First, AiiM Partners Fund, Big Idea Ventures, AeraVC, Beyond Impact Ventures, Boom Capital, Twynam Investments, and some angel investors on top of $500,000 in a pre-seed round.
Founded in August 2018 by Sandhya Sriram and Ka Yi Ling, Shiok said it would build a commercial pilot plant and then launch its minced shrimp product in 2022.