Evo Foods

Evo Foods is an Indian plant-based egg startup that uses biotechnology to extract plant proteins from appropriate sources to mimic the versatility and texture of conventional eggs. The startup claimed to be India’s first to create plant-based liquid eggs back in 2020. ​​Using its proprietary patent-pending technology and native Indian ingredients such as mung beans and peas, the business is on a quest to disrupt and modernize the chicken egg market. Evo claimed that their liquid egg resembles a conventional beaten egg in taste, texture, and nutrient profile and has a shelf-life of up to six months. The startup was also looking to create a shelf-stable egg product.

In March 2022, Evo Foods launched a heat-stable plant-based boiled egg , claimed to be the first in the world. This egg will be available in 2 flavor options–original and peri-peri–and 2 shapes–cubes and patties and were to be sold initially across restaurants in Mumbai, Delhi, and Bangalore. The company claims this egg contains 8 grams of protein per 100 grams and has 0 cholesterol per serving. The startup’s liquid egg alternative was to also be launched simultaneously. Evo’s products were to be offered on more menus later in 2022, with the company in talks with some quick service restaurant (QSR) chains. Evo claims to be one of the few startups in the world to achieve price parity across numerous animal egg categories. The company aimed to expand to all the continents by 2026 and announced plans to launch its products in the US , starting with New York and Los Angeles in October 2022.

Key customers and partnerships

In May 2022, the company partnered with Gikgo Bioworks to develop a method for producing animal-free egg proteins for use in Evo's products.

Funding and financials

In April 2021, the company raised INR 6.2 crores (~USD 845,000) in pre-seed funding from investors, including Sustainable Food Ventures, Capital V, VegInvest, Dr. Sandhya Sriram, Stephanie Downs, and Kale United. The round was one of the largest for an Indian food startup and funds were used to expand its R&D and marketing teams. It planned to launch across India in Q2 2021 and expand overseas by 2022.