Hungarian startup Plantcraft Innovations Ltd. recently raised HUF $150 million ($500,000) led by investment firm X-Ventures to expand the distribution of its vegan deli meats to the United States. The company was founded by Katalin Ohens and Csaba Hetényi with the mission of providing a plant-based alternative to familiar deli meats in an effort to promote a diet with a low environmental impact. Currently, the startup is participating in ProVeg, an incubator in Berlin, Germany that is helping the company finalize its products which include pepperoni, salami, ham, and pâté. “We see significant market potential in Plantcraft products and the know-how accumulated by the team, since in the future it will be possible to produce foods that meet consumersʼ needs at a much lower cost than a traditional farmʼs meat production costs—and for customers, price will always be a priority,” X-Ventures CEO Levente Zsembery said. “Such an economic opportunity will bring about radical changes in the food industry, new products, new business models and new companies will emerge, which is why we have seen potential in Plantcraft.” According to Hetényi, the pâté is ready for market while the other meats are in their final stages of development and should be ready for the US market in the coming months.
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