Glocalink Singapore (Director: Dr. Ravikrishna Ramanujam) has invested in Vitality Foods(CEO: Raavee Shanker), a Singapore-based foodtech startup developing plant-based food solutions for the growing silver communities in Asia Pacific. Vitality Foods has developed a range of plant-based stock powders in meaty flavour profiles such as chicken, fish, pork and beef as their flagship product. These stock powders will also offer higher nutrition with more protein, carbohydrates, fibre, minerals and micronutrients.
The funding from Glocalink Singapore brings the startup to a post-money valuation of S$ 2.5 million. With the new capital, Vitality Foods aims to boost research and development, optimise operational efficiencies and accelerate the commercialisation of their flagship product to healthcare institutions and other strategic stakeholders by mid of 2023.
The silver community is one of the fastest growing demographics worldwide. The global elderly nutrition market size is projected to grow at a compounded annual growth rate of 6.7 percent to reach US$ 39.7 billion by 2030. The United Nations also estimates that nearly two-thirds of the world’s older population, close to 1.3 billion people, will be living in Asia-Pacific by 2050. Yet, age-specific, non-prescription food targeting this demographic is still limited and underserved. Vitality Foods is targeting to address this gap by providing a full suite of plant-based, geriatric-friendly food solutions that deliver nutrition, health and immunity without compromising the taste and mouthfeel.
Vitality Foods is also launching a bespoke range of culinary solutions for hotels, restaurants, food services, airlines etc. These solutions will have two key advantages. First, commercial kitchens can leverage on these solutions to readily create plant-based versions of cuisine type dishes with meaty flavours. Second, the preparation of these dishes will also take a fraction of the time compared to their existing processes.
By linking up with Glocalink Singapore as a strategic investor, Vitality Foods is aiming to participate in Enterprise Singapore’s Global Innovation Alliance program in 2024. By participating in this program, Vitslity Foods will seek to collaborate with various Japanese companies and jointly develop new products that support the ageing population in Japan.
About Vitality Foods
Vitality Foods is a Singapore-based foodtech startup developing plant-based food solutions for the growing silver communities in Asia Pacific. They are on a mission to empower our ageing communities to continue enjoying foods, live in good health and be independent in their silver years.
About Glocalink Singapore
Glocalink Singapore, is an agri foodtech focused investment company with a vision to solve the most pressing problems in food security and advance the future of food and agriculture. Glocalink Singapore aims to do this by supporting and investing in early stage startups with innovative technologies to not only solve local issues but can be further developed and implemented to solve global challenges.
Glocalink Singapore Pte. Ltd.
Attn: Ravikrishna Ramanujam