How Nigerian Plant-Based Meat Startup Got Funding From Swedish Partners
VeggieVictory, a Nigeria-based vegan food tech startup that ventured into an area many thought was impossible in Africa, plant-based meat, has succeeded in securing an undisclosed amount in a pre-seed round led by Sustainable Food Ventures, Capital V, Kale United, and Thrive Worldwide. Co-founded by Hakeem Jimo who figured that with the growing rate of healthy living buffs across Nigeria, there is a yawning gap for vegetarians who still desire meat that is not animal based.
The startup, which started as a vegan restaurant in West Africa, is making protein-rich meat alternative products locally. VeggieVictory is “establishing an innovative and first-of-its-kind product for Nigerians,” said Måns Ullerstam, founder of Sweden-based Kale United.
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This was the driving force behind the founding of VeggieVictory in 2013 as a pioneer in the space. Aside from the founding of this startup, however, a number of vegan restaurants have sprung up in response to rising demand from a small but growing vegetarian and vegan community in Nigeria. Some of these include Thrive, Happy Healthy Food, and Eat Tu Live.
This development is against the tide of the widely-held perception that the only vegetarians in Nigeria are either foreigners or Nigerians who have spent time abroad are slowly being put to bed. There is a growing number of people, in Africa at large, giving up meat to pursue the vegetarian lifestyle, as ridiculous as it may seem to the average meat-loving African.
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Speaking on the funding from their Swedish partners, Hakeem Jimo said “we are excited to have won over these well-known investors not only for VeggieVictory but the African continent as the next frontier for the plant-based movement”.
VeggieVictory plans to use the pre-seed funding to develop more products that are vegan-friendly, adding to its current offerings that include health meat alternatives such as Vchunks and Kilishi, a vegan beef jerky that has become a popular ready-to-eat-snack.
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“Kale United has said from day one its dream investment is a plant-based company in Africa who could help Africa make the same leap it did with mobile phones, skipping landlines but with plant-based alternatives to meat skipping the growth of meat consumption. We believe Veggie Victory is the right company to make this happen in Nigeria – the largest market in Africa,” Ullerstam said.
Beyond Nigeria, reports say VeggieVictory plans to expand its product offering across Africa while also targeting the African diaspora in the United States and Europe.
“Demand for affordable protein on the continent with a population doubling until 2050 is growing faster and faster,” Jimo said, noting that the Covid-19 pandemic has made it “even clearer for Africans that individual health is critical and a plant-based diet is a key to it”.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
