Wednesday, 17 April 2024 13:00

Plant-based bubble bursts

Written by Milking It

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OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.

This is leading to questions about the future of Australia’s once-hot alternative meat sector.

The New Zealand plantbased meat company Sunfed has announced it will be shutting down as its inventory runs out and investors leave.

The company, which started in 2015, provided meat alternatives across New Zealand and Australia, using regenerative yellow peas, water and coldpressed extra virgin olive oil as its primary ingredients.

It says “plant-based bubble” had burst and the existing venture capital investors were “no longer interested in supporting the business”. No one should be surprised.

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