Shanghai-based food startup Haofood has created a line of plant-based chicken products made from peanut protein. During its product development, the company aimed to create a product that did not rely on soy and instead tested a wide variety of plant-based proteins. Haofood has since developed proprietary methods to create modified textured peanut protein that gives its products a texture and taste similar to meat from chickens. Since its last year, the startup has completed its first stage of product development, with products that include plant-based chicken nuggets, chicken chops, and popcorn chicken, and it has closed a pre-seed investment round of $325,000. The company is also currently working on developing fried chicken.
Vegan peanut chicken launch
This year, Haofood plans to roll out its products to the foodservice sector, starting in China and then Southeast Asia, and focus on growth through co-branding and co-creation. It is currently working to raise $1.5 million to reach its goal of distributing its products to 300 restaurants and developing its own protein and wet extrusion processes. Next year, the company plans to expand to e-commerce with the retail market to follow in 2023.