A recent feature in financial media outlet Business Insider in India discussed the current investment climate in the area, specifically regarding food technology. According to writer Praveen Rajaretnam, until recently, Indian investors had little interest in funding food startups. However, with the demonstrated success of companies such as Impossible Foods and Soylent, venture capitalists in the country are now drawn to the plant-based market. “Who wouldn’t want a piece of a $40 billion pie?,” Rajaretnam asked before adding, “The nutritional content of these new age food startups is quite high, and investors are happy to put their money where their mouth is.” Rajaretnam points out that Indian investors are uniquely positioned to profit from the growing plant-based industry, as nearly a third of the country is vegetarian. In concert with India’s newfound interest, global financial institutions are promoting the growth of plant-based foods. In September, Farm Animal Investment Risk & Return Initiative—a coalition of influential investors with a collective fund valued at more than $1 trillion—issued a demand for 16 multinational companies such as Kraft, Unilever, and Nestle to move toward better environmental practices, including the development of more plant-based proteins.
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