Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Battery and Hybrid Cars Will Dominate China’s Roads in 15 Years
Trending in China: Do The Sins Of The Father Fall On Their Sons? Social Media Lambast Pop Star with ‘Deadbeat’ Dad
Chinese Electronics Panel Maker CSOT Reports Profit Growth as Demand Soars
Xiaomi Invests in Home Improvement Firm Amid Push into Internet of Things
TikTok Escalates Patent Fight With Triller Amid Sale Talks
Chinese Self-Heating Hot Pot Brand Zihaiguo Nets Over $50m in Series C Round Led by CICC
Xiaomi Leads India’s Smartphone Market with 26.1% Share
Trending in China: Are China’s Blue-Collar Wages Really Higher Than Graduate Salaries?
Trending in China: An End to Spam Calls? Real Estate Company to Give Money to Anyone Who Receives One
Trending in China: Patriotic War Film Overpowers Foreign-Made Feature, But Not Everyone Is Impressed
Shopify Partners with TikTok to Drive Online Sales
Lawson Tests Next Step of Convenience Store Evolution in China
PUBG Creator Krafton Hires Bankers for Possible Record IPO
Mobile Browser Crackdown Ensnares Big Names
Chinese Biotech Startup Genecast Bags $149 Million in Series E Funding Round
Founder and CEO in ‘Divorce’ With Dating App Momo
Chinese Medical Rehabilitation Robot Maker Fourier Closes $15 Million Funding Round
Caixin Investigation Uncovers Shady Business In Myanmar
Tencent Bets Big on Chinese E-Sport Firm, Leading $100 Million Funding Round
Chinese Companies Line Up to Take Advantage of Huawei’s U.S. Troubles
Hong Kong-Headquartered Plant-Based Food Producer Green Monday Closes $70 Million Funding Round

Ding Yi / Sep 22, 2020 04:52 PM / Business & Tech

Plant-based food company Green Monday Holdings has raised $70 million in a new funding round led by U.S. investment firm TPG’s The Rise Fund and Hong Kong-based conglomerate Swire Pacific, in a sign that investors are betting on a future in which plant-based protein alternatives will grow in popularity as a new healthy lifestyle.

The funding round, which the company claims is the largest of its kind to date in Asia, was joined by new investors including CPT Capital, Jefferies Group, Sino Group’s Ng Family Trust, Taiwanese-American artist Wang Leehom and Room to Read founder John Wood, according to a company statement on Tuesday.

Green Monday Holdings will use the capital raised to enhance its research and development efforts, expand its retail networks and boost its production, distribution and supply chain capabilities, according to the statement.

As an arm of Green Monday Group which was founded in 2012 in Hong Kong, Green Monday Holdings operates OmniFoods, the maker of plant-based faux meat products such as OmniPork and OmniPork Luncheon, and Green Common, an operator of vegan stores and restaurants.

Green Monday Holdings also said that it plans to increase its global operations to over 20 markets and open Green Common flagship stores in China and Singapore in the next six months.

OmniPork is currently being used in a Starbucks vegetarian menu available at the coffee chain’s locations in China.

Last month, Green Monday Holding’s U.S. rival, Beyond Meat, announced plans to build two manufacturing facilities in an economic and technology zone in East China’s Zhejiang province, with full production set to be realized in early 2021.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Plant-Based Faux Meat Maker Beyond Meat Shifts Production Lines to China

 


Share this article
Open WeChat and scan the QR code