Move Over, Seitan: With $47M Series C, Japanese Startup To Bring Plant-Based ‘Miracle Meat’ to the World

Japanese plant-based meat company DAIZ has secured $47.4 million in Series C funding, making it the largest sum ever raised for a food tech company in Japan. The company plans to use the funds to build a new plant-based meat factory in Kumamoto, Japan, with a capacity of eventually producing 20,000 tons of plant-based meat annually. DAIZ uses a proprietary soy germination technology to create 'miracle chips' that are used to make vegan alternatives to meat and eggs, partnering with companies globally to expand its reach.

The plant-based market in Japan has been rapidly growing, with several companies entering the sector and government support for alt-protein solutions to achieve net-zero targets by 2050. DAIZ's latest financing round received investment from various companies and financial institutions, with the company's CFO highlighting the importance of leveraging financing systems to drive innovation and growth in the plant-based industry.