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.
Other investors include; Dexler Holdings, celebrity Chef Manu Chandra and a group of domestic family offices and angel investors.
MS Dhoni, India’s most loved cricketer, is known to back sector-leading startups across the consumer segment. The plant protein segment has seen a lot of celebrity backing globally. Plant protein diets are inherently more sustainable and its health benefits are driving more customer adoption.
Speaking about the partnership, MS Dhoni said, “I love everything chicken, but increasingly, I am looking at a more balanced diet. It is much easier with products from Shaka Harry, which has a wide range that delivers a healthier experience to that of traditional meat dishes. For a growing population, current protein sources aren’t sustainably as scalable. We now have a choice to shift to smarter protein alternatives without compromising on taste and texture. The plant protein segment is an exciting consumer space. The team at Shaka Harry has all the ingredients to build a great company.”
Anand Nagarajan, co-founder and CEO of Liberate Foods said, “We are very excited to have Dhoni partner with us in growing Shaka Harry. This is a validation of what we are building. Shaka Harry has the unique combination of the world’s best players.”
On customer traction and plans going ahead, Anand added, “We are serving over 30,000 customers across 10 cities monthly, and expect to triple this number in the next few months. Shaka Harry will also be available on global shelves by the end of this year.”
Varun Deshpande, Managing Director, at expert alternative protein nonprofit Good Food Institute India (GFI) , said “Remaking our protein supply is our best bet at building sustainable economic prosperity for the 21st century – we’re still in the very early stages of the global smart protein transformation. Mahendra Singh Dhoni’s partnership with Shaka Harry is exactly the kind of leadership we need, bringing plant-based meats to his legions of adoring
fans, breaking into the true multi-billion dollar mass market. We’re delighted that Mahi and Shaka Harry are forming this dream duo.”
GFI research with Deloitte indicates that the right investments in talent, R&D, manufacturing, and distribution could drive the Indian smart protein sector to a market size of nearly IRs19,000 crore by 2030, including a sizeable export market.