SUMMARY
With the current fundraising, Shaka Harry will form a partnership with Dhoni to expand customer reach and introduce new product offerings
The development comes three months after Shaka Harry secured $2 Mn in its seed funding round led by Better Bite Ventures, Blue Horizon and Panthera Peak Ventures
The startup said it is currently serving 30,000+ customers across 10 cities on a monthly basis
Former Indian skipper and cricketer MS Dhoni has invested an undisclosed amount of equity funding in plant-based meat startup Shaka Harry.
With the current fundraising, Shaka Harry will form a partnership with Dhoni to expand customer reach and introduce new product offerings.
The development comes three months after Shaka Harry secured $2 Mn in its seed funding round led by Better Bite Ventures, Blue Horizon and Panthera Peak Ventures, said the startup. Dexler Holdings, Manu Chandra and a slew of family offices and angel investors also have participated in the funding round.
“For a growing population, current protein sources are not 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. Shaka Harry’s team has all the ingredients to build a great company,” said MS Dhoni.
Founded by Anand Nagarajan, Sandeep Devgan, Hemalatha Srinivasan, Ruth Renita and Anoop Haridasan, Shaka Harry is a subsidiary of Liberate Foods. It offers an array of plant-based meat and snacking food products. Its product offerings include stuffed chicken paratha, mutton keema, chicken burger patties, and chicken fries, among others.
According to the startup, all cofounders along with the leadership team of Shaka Harry hold an immense experience in the food segment. They have previously worked in F&B companies such as Stonefield Flavours, Chai Point, Licious, Cafe Coffee Day, and Hambriento Foods, among others.
“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,” said Nagarajan, cofounder and CEO of Liberate Foods.
Shaka Harry claims that its products are cholesterol-free and have zero trans-fat. It said it is currently serving 30,000+ customers across 10 cities on a monthly basis. It further anticipates to triple its monthly customers in the next few months. By the end of 2022, the startup plans to foray into the international market as well.
Blue Tribe, Licious and Imagine Meats are some of the plant-based meat brands that are operating in the D2C space.
Bollywood celebrities and cricketers backing startups is a common sight in the Indian startup ecosystem these days. For example, in September, Bollywood actress Dia Mirza invested in sustainable clothing brand Greendigo. Besides, Ranveer Singh backing SUGAR Cosmetics, Shilpa Shetty putting money in Fast&Up and Chicnutrix, and Nora Fatehi backing Curefoods are some more examples.
Further, as per an Inc42 report, the country’s D2C sector is expected to be $100 Bn+ by 2025 whilst the ecommerce space is anticipated to be $200 Bn by 2026.
