VC Fund Investments
Food ingredients startup Proeon raises $2.4 M from Shaival Desai, Flowstate Ventures, others
Pune-based food ingredients startup Proeon has raised USD 2.4 million in a seed funding round led by entrepreneur Shaival Desai. Flowstate Ventures, Peak Sustainability Venture Fund I (executed by Samir Shah on behalf of the Fund), Waoo Partners (Pratul Shroff family office), and other angel investors, as well as existing investor Sanjaya Mariwala, MD, OmniActive Health Technologies Ltd, also participated in this round. The firm will use the fresh capital to set up a research lab in the Netherlands, file IP, scale up production and expand the team. Founded by Ashish Korde and Kevin Parekh in 2018, Proeon aims to help food companies make plant-based meat, dairy, and egg replacement products by solving critical formulation challenges at the ingredient level.
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