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Alt-meat maker Green Monday is raising $100 million

Illustration of a red burger with a green stem, resembling a tomato.

Illustration: Rae Cook/Axios

Green Monday, a Hong Kong-based faux meat maker, reportedly is raising $100 million in Series B funding.

Why it matters: Plant-based meat alternatives were a big deal first in the U.S. and are now expanding across Asia, where the diet is different but the opportunity is potentially bigger.

Behind the scenes: David Yeung, who founded the company in 2012, tells Axios that proceeds would be invested in geographical expansion, as the company only launched in the U.S. last fall.

  • OmniFoods, described as Asia's answer to Beyond Meat, figures large in the sector's growth, especially as it focuses on fish and pork while its competitors chase beef and poultry.
  • R&D also is a priority for Green Monday, with plans to launch prepared food products such as a spring roll using its plant-based pork.

Meanwhile, competitors across the region are raising capital as well. Singapore-based startup Next Gen raised $100 million in Series A funding last month for its U.S. expansion, TechCrunch reported.

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