Hong Kong startup Good Food Technologies, which makes plant-based pork meat, has announced the closure of an oversubscribed HK$12 million (approx. US$1.5 million) seed round led by pan-Asian VC Gobi Partners, in their first investment into the alternative protein sector, with further participation from LeverVC, DayDayCook and Brinc.

The new funding will be used to bolster an upcoming retail launch, as well as establishing pilot production in the Greater Bay Area. After securing blue-chip food service contracts over the past year with Disneyland, amongst others, Good Food is looking to debut its Plant Sifu consumer range in supermarkets.

Mimicking fattiness

Founded in 2020, Good Food’s initial product R&D focused on Chinese dim sum. The company says the fattiness of pork is what gives many dumplings their signature flavour and aroma, leading the founders to develop proprietary technology dubbed Aromax, a konjac-based encapsulation technology that mimics the fatty pork flavours.

Mainland Chinese expansion

Good Food says it is prioritising mainland China in the short to medium term. While the company does not have an official presence there yet, they are already testing their products in the market. Incoming funding will allow the young company to further develop strategic partnerships in the country. One potential partner is Tao Heung Group, which has over 100 restaurant locations across Hong Kong and China.

Good Food currently has a range of eight plant-based pork products made from soy protein. Five are intended for B2B usage, including meatballs, patties, burgers and ground pork. The remaining three are aimed at consumers in the form of ready-to-cook dumplings.