Indian cricketer, MS Dhoni, has joined global investors in backing India’s fastest growing plant protein startup, Shaka Harry and has picked up equity in the company, said a media release issued by the company on Monday. This development comes on the backdrop of the company having recently received US $2 million in a seed funding round led by Better Bite Ventures, Blue Horizon and Panthera Peak Ventures.
MS Dhoni, India’s most loved cricketer, is known to support leading start-ups in the consumer segment. The plant-based protein segment has received a lot of celebrity support around the world. Plant-based protein diets are inherently more sustainable and their health benefits drive greater customer acceptance.
Speaking about the collaboration, Dhoni said: “I love all things chicken, but more and more I’m looking for a more balanced diet. It’s much easier with products from Shaka Harry, which has a wide range that provides a healthier experience compared to traditional meat dishes. “For a growing population, current protein sources are not sustainable as scalable. We now have the choice to switch to smarter protein alternatives without sacrificing taste and texture. The plant-based protein segment is an exciting consumer space. Shaka Harry’s team has all ingredients to build a great business.”
Anand Nagarajan, co-founder and CEO of Liberate Foods, said: “We are very pleased to have Dhoni partner with us in growing Shaka Harry. This is a confirmation of what we are building. Shaka Harry has the unique combination of the world’s best players.”
Shaka Harry currently serves more than 30,000 customers monthly in 10 cities and expects to triple this number in the coming months. “Shaka Harry will also be available worldwide by the end of this year,” said Nagarajan.
Varun Deshpande, managing director, Good Food Institute (GFI) India, said: “Rebuilding our protein supply is our best opportunity to build sustainable economic prosperity for the 21st century. We are still in the very early stages of the global transformation of smart proteins. MS Dhoni’s partnership with Shaka Harry is exactly the kind of leadership we need, bringing plant-based meats to his legions of adoring fans and breaking into the true multi-billion dollar mass market. We are excited about Mahi and Shaka Harry from this dream duo!”
GFI research with Deloitte indicates that the right investments in talent, R&D, manufacturing and distribution could drive India’s smart protein sector to a market size of nearly 19,000 crore by 2030, including a sizable export market.
“Shaka Harry is adding new products to our daily necessities, celebrations, grab and go and world cuisine. We currently have an ongoing consumer trial of our plant-based diary line. This investment and our partnership with Dhoni will greatly expand our customer reach and new product launches,” added Sandeep Devgan, co-founder of Shaka Harry.
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