Chinese startup Starfield Food Science & Technology has raised USD 100 million in a Series B funding round led by private equity firm Primavera Capital Group; this also marks the fifth funding round for the startup since its inception. The round was also joined by Ming Zeng, Alibaba’s chief strategy officer, along with existing investors; Sky9 Capital, Joy Capital, Matrix Partners China, and Lightspeed China Partners. The new funds will be used for product development, capital expenditure, talent recruitment, expanding distribution channels, and enhancing marketing and brand promotion.

Founded in 2019, Starfield is a plant-based meat company that uses soybeans and superfoods (chickpeas, quinoa, microalgae) to create plant-based meat, sausages, and high protein snacks and shakes. The startup uses molecular sensory science, and its technology imitates the Maillard chemical reaction. Starfield sells its products across 14,000 stores through partnerships with over 100 brands. It operates under the business-to-business-to-consumer (B2B2C) model and sells to customers in collaboration with other businesses such as restaurants and convenience stores.