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Daiz, Japan’s answer to Impossible Foods, secures $17M series B round

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Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced on Monday that it has secured about 1.85 billion yen (about $17.1 million) in a series B round. Participating investors are Ajinomoto (TSE:2802), Marubeni (TSE:8002), Nippon Steel Trading (TSE:9810), Kanematsu (TSE:8020), Kanematsu Foods, ENEOS Innovation Partners, Kichiri Holdings (TSE:3082), Mitsui Sumitomo Insurance Capital, The Norinchukin Bank, Global Brain, Kemuri Ventures, Mitsubishi UFJ Capital, Golden Asia Fund Ventures (jointly run by Taiwan’s Industrial Technology Research Institute-backed investment arm and Mitsubishi UFJ Capital), QB Capital, Shinkin Capital, and Kirin Holdings (TSE:2503). Among these investors, Mitsubishi UFJ Capital follows the Series A investment in May 2020 while QB Capital follows the September 2018 round. The latest round brought Daiz’s funding sum to date up to 3.05 billion yen (about $28.2 million). The company will use the funds to expand its meat substitutes production, strengthen research and development, develop global business channels, and hire new employees. The company plans to expand its annual production capacity up to 4,000 tons from June this year. Following this round, Daiz will work with Ajinomoto and Nichirei Foods (Nichirei Foods joined the series A round) to develop products for household and commercial use using the startup’s…

Image credit: Daiz

Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced on Monday that it has secured about 1.85 billion yen (about $17.1 million) in a series B round.

Participating investors are Ajinomoto (TSE:2802), Marubeni (TSE:8002), Nippon Steel Trading (TSE:9810), Kanematsu (TSE:8020), Kanematsu Foods, ENEOS Innovation Partners, Kichiri Holdings (TSE:3082), Mitsui Sumitomo Insurance Capital, The Norinchukin Bank, Global Brain, Kemuri Ventures, Mitsubishi UFJ Capital, Golden Asia Fund Ventures (jointly run by Taiwan’s Industrial Technology Research Institute-backed investment arm and Mitsubishi UFJ Capital), QB Capital, Shinkin Capital, and Kirin Holdings (TSE:2503).

Among these investors, Mitsubishi UFJ Capital follows the Series A investment in May 2020 while QB Capital follows the September 2018 round. The latest round brought Daiz’s funding sum to date up to 3.05 billion yen (about $28.2 million).

The company will use the funds to expand its meat substitutes production, strengthen research and development, develop global business channels, and hire new employees. The company plans to expand its annual production capacity up to 4,000 tons from June this year.

Following this round, Daiz will work with Ajinomoto and Nichirei Foods (Nichirei Foods joined the series A round) to develop products for household and commercial use using the startup’s flagship meat substitute Miracle Meat. Leveraging the network of trading companies like Marubeni, Nippon Steel Trading, and Kanematsu/Kanematsu Foods, the company expects to cultivate sales channels for the meat substitute in both overseas and domestic markets. Daiz and ENEOS Holdings (parent company of ENEOS Innovation Partners) aim to create a low-carbon society through the spread of the meat substitute, which has a smaller environmental impact than animal meat and plant-based substitutes from defatted soybeans.

DAIZ adopts the patented Ochiai method in germinating soybeans, which activates enzymes and increases the amount of free amino acid contained by imparting stress such as lower oxygen level and higher temperature at the right timing of germination. This eventually contributes to bringing out the flavor of the raw ingredients and reproducing the meat-like texture without adding any additives.

Daiz rolls out plant-based meat burger to nearly 180 fast-food restaurants in Japan

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Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced today that it is offering The Good Burger using the company’s proprietary meat alternative as a patty at all stores of the Freshness Burger fast-food restaurant chain all across Japan. The Good Burger has been offered at selected stores in the Tokyo Metropolitan Area on a trial basis since the middle of this month. In the burger, a patty made from soybeans is smothered in teriyaki sauce and sandwiched with low-carb buns and vegetables. Freshness Burger, the fast-food brand operated by Japanese restaurant chain giant Colowide (TSE:7616), has 183 locations nationwide and is ranked in the sixth place in Japan by number of outlets. The new product will be available from September 1 through the end of the month exclusively to Freshness Burger app members, and will be available to all customers after October 1. DAIZ adopts the patented Ochiai method in germinating soybeans, which activates enzymes and increases the amount of free amino acid contained by imparting stress such as lower oxygen level and higher temperature at the right timing of germination. This eventually contributes to bringing out the flavor of the raw ingredients and reproducing the…

The Good Burger ordered at Jiyugaoka store, the Freshness Burger fast-food chain restaurant.
Image credit: Masaru Ikeda

Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced today that it is offering The Good Burger using the company’s proprietary meat alternative as a patty at all stores of the Freshness Burger fast-food restaurant chain all across Japan.

The Good Burger has been offered at selected stores in the Tokyo Metropolitan Area on a trial basis since the middle of this month. In the burger, a patty made from soybeans is smothered in teriyaki sauce and sandwiched with low-carb buns and vegetables.

Freshness Burger, the fast-food brand operated by Japanese restaurant chain giant Colowide (TSE:7616), has 183 locations nationwide and is ranked in the sixth place in Japan by number of outlets. The new product will be available from September 1 through the end of the month exclusively to Freshness Burger app members, and will be available to all customers after October 1.

DAIZ adopts the patented Ochiai method in germinating soybeans, which activates enzymes and increases the amount of free amino acid contained by imparting stress such as lower oxygen level and higher temperature at the right timing of germination. This eventually contributes to bringing out the flavor of the raw ingredients and reproducing the meat-like texture without adding any additives.

In May, the company secured about $6 million US in a series A round, which brought the total sum of funding to date up to about $11.4 million US.

Daiz, Japan’s answer to Impossible Foods, secures $6M series A round

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Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced today that it has secured about 650 million yen (about $6 million) in a series A round. Investors participating in this round are: A-FIVE: Agriculture, forestry and fisheries Fund corporation for Innovation, Value-chain and Expansion Japan (Japan’s state-backed fund) Mitsubishi UFJ Capital Okasan Capital Partners Nichirei Foods (One of major brands of pre-cooked frozen foods in Japan) Kajitsudo (former parent company and current major share holder of Daiz, supplying organically-grown salad greens and leafy vegetables) Details of Daiz’s fundraising so far are unclear, but this follows the company’s previous three funding announcements: 100 million yen from Nishi-Nippon City Bank and QB Capital in September of 2018, 100 million yen from Kagoshima Bank in December of 2018, and 50 million yen from Nichirei Foods in February this year. The latest round brought their total funding sum up to about $11.2 million. The company says it will use the funds to expand its production capacity for soybean-based plant meat raw material called Miracle Chip up to 3,000 tons per year in addition to strengthen R&D efforts to get the taste of plant meat much closer to the real one. The…

Image credit: Daiz

Kumamoto-based Daiz, the Japanese startup developing plant-based substitutes for meat products, announced today that it has secured about 650 million yen (about $6 million) in a series A round.

Investors participating in this round are:

  • A-FIVE: Agriculture, forestry and fisheries Fund corporation for Innovation, Value-chain and Expansion Japan (Japan’s state-backed fund)
  • Mitsubishi UFJ Capital
  • Okasan Capital Partners
  • Nichirei Foods (One of major brands of pre-cooked frozen foods in Japan)
  • Kajitsudo (former parent company and current major share holder of Daiz, supplying organically-grown salad greens and leafy vegetables)

Details of Daiz’s fundraising so far are unclear, but this follows the company’s previous three funding announcements: 100 million yen from Nishi-Nippon City Bank and QB Capital in September of 2018, 100 million yen from Kagoshima Bank in December of 2018, and 50 million yen from Nichirei Foods in February this year.

The latest round brought their total funding sum up to about $11.2 million. The company says it will use the funds to expand its production capacity for soybean-based plant meat raw material called Miracle Chip up to 3,000 tons per year in addition to strengthen R&D efforts to get the taste of plant meat much closer to the real one.

Miracle Chip, Daiz’s soybean-based material for meat substitutes
Image credit: Daiz

The company adopts the patented Ochiai method in germinating soybeans, which activates enzymes and increases the amount of free amino acid contained by imparting stress such as lower oxygen level and higher temperature at the right timing of germination. This eventually contributes to bringing out the flavor of the raw ingredients and reproducing the meat-like texture without adding any additives.

In this space, we’ve recently seen updates like Impossible Foods raising $500 million to launch the sales of plant-based meat at 1,700 Kroger Co stores across the US in addition to Canada’s Livekindly (previously known as FoodsUnited) raising $200 million to invest in plant-based chicken substitutes. In April, Singapore-based Growthwell raised $8 million while Beyond Meat started offering food items using meat substitutes at over 3,300 Starbucks stores all across Mainland China.

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