Krystal Ventures Studio launches its first plant-based cohort program

Krystal Ventures Studio launches its first plant-based cohort programNew Delhi, March 18, 2023: The pilot Plant-based Product Cohort program aims to fund and support five startups in the area of Plant-based Meat, Plant-based Dairy, Plant-based Protein Ingredients and Nutraceuticals, and Beauty and Wellness products. Startups are selected through a meticulously curated shortlisting program and selected by the independent investment committee. The selected startups are backed with capital and supported through the robust Krystal Venture Studio Program which takes them through a three-year rigorous journey of achieving milestones defined by the founders and supported by industry experts and a dedicated investor base.

Cohort participants will receive an initial investment of USD 100,000 and an additional fund of up to USD 200,000 as needed to achieve agreed-upon milestones.

Krystal Ventures Studio aims to make good startups into great ones, helping them cross the bridge over the ‘valley of death’ – the most difficult period of a startup in the early stages of its lifecycle. For investors, the thematic portfolio approach enables a better risk spread and moderated returns as against the high risk of investing in a single startup.

The plant-based foods market could make up to 7.7% of the global protein market by 2030, with a value of over $162 billion, up from $29.4 billion in 2020, according to a new report by Bloomberg Intelligence (BI). The report,  ‘Plant-Based Foods Poised for Explosive Growth,’ forecasted the global alternative protein sector to be worth $1.1 trillion by 2050. With the right interventions, the Indian smart protein could be worth more than $4 billion by 2030According to an Economic Modelling Analysis conducted by GFI India & Deloitte India the domestic potential for plant-based meat by 2030  ranges from INR 1,800 Cr – 5,800 Cr, and the plant-based dairy market ranges from INR 4,800 Cr – 10,600 Cr.

To launch the Cohort Krystal Ventures will be organizing a virtual launch event on March 18 to provide an overview of the cohort.  The session will be inaugurated by Khurshed Dordi, MD & Group COO India, Deutsche Bank, along with Guests Sanjay Sethi, Executive Director, Plant Based Foods Industry Association, Dr. Dalal Al Ghawas, Director Big Idea Ventures, and Nicole Rocque, Senior Innovation Specialist, GFI India. Interested participants can register on

Krystal Ventures Studio endeavors to create a robust platform for early-stage startups to achieve their milestones while helping investors to make better decisions. The next round of funding is achieved through early engagement of next-stage investors with the startups during the cohort program, along with some additional mentorship hours.

With deep and diverse experience among its founders ranging from wealth management, investment banking, business management, strategy, and finance, Krystal Ventures Studio brings a well-defined process for its cohort programs. Founded by the boutique investment banking company, Sagestreet Advisory Pvt Ltd (with its partners Shrihari Allangala, Mahesh Krishnamurthy, and Ashok Subramanian) and wealth management firm R&D Capital Pvt Ltd. (led by Rattan Deep, Sumanta Mukherjee, and Jagannath), KVS aims to build a strong ecosystem of venture studios backed by its upcoming 20 million USD Krystal Venture Fund-1.

“Krystal Ventures Plant-based product Cohort aims to provide fresh capital to support a fast-growing startup ecosystem and consumer base. Our capital and experienced support system will provide plant-based product startups to grow and expand into markets like India and the Middle East.” Shrihari Allangala, Director, Krystal Venture Studio

The cohort program’s investment committee comprises experts in investments, strategy, finance, alternative asset management, food and biotech engineering, and plant science. The program is managed by Manjula Naidu, the Program Manager, and a team of analysts supported by industry experts and advisors.

The KVS plant-based cohort program is supported by the Good Food Institute India (GFI India), through its technical and market expertise.

Today, India has 58 companies working on plant-based meat, eggs, and dairy, with almost half of these companies launching between 2021-2022, alone. Over this two-year period, smart protein product startups recorded $17Mn in investments, and have been able to demonstrate an early proof of concept with 400+ products in the market today. We are excited to be working closely with Krystal Venture Studios on a dedicated plant-based products cohort, which will enable startups to invest more into R&D to improve the taste, price, and nutrition profile, as well as improve distribution and accessibility, making these products ideally placed for target consumer markets.” Nicole Rocque, Senior Innovation Specialist, GFI India

The Cohort is also supported by the Plant-Based Food Industry Association (PBFIA), India’s plant-based industry association with over 100 members.

Startups interested in the Plant-based Product Cohort can register here.

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