- Companies
- Starfield Food & Science Technology
Starfield Food & Science Technology Funding, Investors & Competitors
Starfield Food & Science Technology has raised $125M across 4 funding rounds, most recently a $100M Series B in January 2022.
Last Starfield Food & Science Technology funding round
$100M
Series B · Jan 2022
Cumulative funding Starfield Food & Science Technology raised
$125M
across 4 funding rounds
Key investors in Starfield Food & Science Technology
Matrix Partners China
Sky9 Capital
Joy Capital
Lightspeed China Partners
Primavera Capital Group
Unovis Asset Management
Ming Zeng
Hong Chang Biotechnology
About Starfield Food & Science Technology
Starfield Food & Science Technology is a Shenzhen-based producer of plant-based meat alternatives with in-house R&D and manufacturing since September 2019. The company develops cultivated proteins mimicking beef, pork, and poultry textures, using bioreactor technology for sustainable production. Distributed in China, its products target urban consumers seeking low-carbon protein sources.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Starfield Food & Science Technology Funding History
Starfield Food & Science Technology has raised a total of $125M across 4 funding rounds.
Starfield Food & Science Technology's first fundraising round was a $100K strategic investment round in August 2019. The most recent completed round was a $100M Series B in January 2022.
Starfield Food & Science Technology funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Series B | Primavera Capital Group (lead); Lightspeed China Partners; Matrix Partners China; Sky9 Capital; Joy Capital; Ming Zeng; Unovis Asset Management | $100M | Starfield Food & Science Technology, founded in 2019 and based in Shenzhen, China, develops plant-based meat alternatives using proprietary enzymatic cross-linking techniques to replicate textures for whole-cut products like steaks and pork chops. The company operates a B2B2C model, partnering with over 100 brands including Nayuki, Heytea, FamilyMart, Tim Hortons, Dicos, and Luckin Coffee, with products available in more than 14,000 stores across China. It collaborates with institutions like Beijing University of Technology and Industry, Jiangnan University, and Wageningen University, and has applied for approximately 30 patents. In early January 2022 (reported around November 2022 timing), Starfield raised $100 million in its Series B funding round, the largest ever for a plant-based protein startup in China at the time and its fifth round since inception. The round was led by Primavera Capital Group, with participation from existing investors Joy Capital, Lightspeed China Partners, Matrix Partners China, Sky9 Capital, and Alibaba chief strategy officer Ming Zeng. This followed a $10 million Series A in August 2020 led by Sky9 Capital. Proceeds from the Series B will fund new product development, laboratory equipment purchases, recruitment, expansion of distribution channels, marketing, and brand promotion. The company is constructing its first commercial-scale manufacturing facility in Xiaogan, Hubei Province, designed to produce hundreds of product formats including ground meat, sausages, meatballs, patties, steaks, and hams, aiming to reduce costs below animal-derived meats. Upcoming launches include braised beef, chicken thigh steaks, and pork chops. Starfield targets Generation Z consumers with affordable, localized plant-based foods aligned with China's carbon neutrality goals and health trends. Investors highlighted its rapid growth, consumer recognition, and adaptation to Chinese tastes, positioning it as the fastest-growing plant-based brand in China amid shifting market focus toward sustainable proteins. |
| Oct 2020 | Series A | Lightspeed China Partners (lead); Matrix Partners China; Sky9 Capital; Joy Capital | $15M | Starfield Food & Science Technology is a Chinese plant-based food technology company founded in 2019, specializing in R&D, production, and sales of plant-based foods using non-GMO soybeans and superfoods like chickpeas, quinoa, and microalgae. It operates a B2B2C model, partnering with over 100 domestic and foreign catering brands, with products available in more than 14,000 retail outlets across China, including HeyTea, Luckin Coffee, Dicos, Hema Fresh, FamilyMart, and Tim Hortons. The company targets Generation Z consumers with affordable, delicious plant-based meat analogs like plant chicken burgers and sandwiches. In 2020, Starfield completed a Series A round, bringing total funding to over $10 million and positioning it as one of China's fastest-growing plant-based brands. Existing investors including Sky9 Capital, Joy Capital, Lightspeed China Partners, and Matrix Partners China participated in subsequent financings. The company achieved counter-trend growth during the pandemic through collaborations such as the Green Fairy Plant Chicken Burger with Dicos in nearly 2,600 stores and plant-based sandwich combos with Luckin Coffee in nearly 5,200 stores. Starfield plans to expand production with its first self-built factory in Xiaogan, Hubei, enhance R&D for better texture and flavor in meat analogs, hire talent, and build its brand. It aims to launch new products like braised beef, chicken thigh steaks, and pork chops, aligning with China's carbon neutrality goals and rising consumer demand for healthy, sustainable options among 18-30-year-olds. |
| Aug 2020 | Series A | Sky9 Capital (lead); Matrix Partners China; Joy Capital | $10M | Starfield Food & Science Technology completed its Series A financing round in August 2020, raising $10 million led by Sky9 Capital with participation from Matrix Partners China and Joy Capital. The company is a plant-based food technology startup founded in 2019 in Shenzhen, China, focused on developing plant-based meat products using non-GMO soybeans and superfoods such as chickpeas, quinoa, and microalgae. By the time of this Series A round, Starfield had established partnerships with over 100 domestic and foreign catering brands and had achieved presence in retail outlets across China. The funding marked a significant milestone for the company as China's emerging plant-based protein sector, setting the stage for subsequent growth and the company's later Series B round of $100 million in January 2022. |
| Aug 2019 | Strategic investment | Hong Chang Biotechnology | $100K | - |
Who has invested in Starfield Food & Science Technology?
8 investors have backed Starfield Food & Science Technology across its funding rounds, including Matrix Partners China, Sky9 Capital, Joy Capital, Lightspeed China Partners, Primavera Capital Group and Unovis Asset Management.
Lead investors include Primavera Capital Group, Lightspeed China Partners and Sky9 Capital.
Starfield Food & Science Technology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Aug 2020 | ||
| 3 | Lead | Aug 2020 | ||
| 3 | Participant | Aug 2020 | ||
| 2 | Lead | Oct 2020 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Aug 2019 | ||
This data is available for Pro users. Sign up to see all 8 Starfield Food & Science Technology investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Starfield Food & Science Technology
Starfield Food & Science Technology has invested in 1 company to date.
Latest investment by Starfield Food & Science Technology was on May 28th 2021. Starfield Food & Science Technology invested in MegaRobo in their $65M Undisclosed stage round.
Latest Investments by Starfield Food & Science Technology
| Description | MegaRobo is a Beijing-based robotics company, founded in 2016, that builds automation systems combining AI software, analytical instruments, laboratory hardware, and consumables for life-sciences research. Its technology targets applications such as new-drug R&D, genetic engineering, and clinical diagnostics, addressing talent shortages in laboratory work through automated testing and analysis. The company has grown to nearly 1,000 employees across offices in China, the UK, and the US, and has partnered with organizations including WuXi AppTec and Bosch. |
| HQ Country | |
| HQ City | - |
| Deal Date | 28 May 2021 |
| Round | Undisclosed stage |
| Raised | $65M |
| Investors | Matrix Partners China; Wuxi AppTec; Joy Capital; Bosch Ventures; Future Capital; Sinovation Ventures; Nice Tuan |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Starfield Food & Science Technology investments and their VC round multiples. Start Free Trial | |
Starfield Food & Science Technology Competitors
Starfield Food & Science Technology competitors include listed companies like Unilever and Hindustan Unilever, and private ones like Impossible Foods, Believer Meats, Eat Just and Oatside.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $460M | - | $7B | 15.2x | ||
| Private | - | - | $900M | - | ||
| Private | - | - | $750M | - | ||
| Private | $37M | - | $705M | - | ||
| Publicly listed | $58B | $12B | $134B | 2.8x | ||
| Publicly listed | $6.7B | $1.6B | $47B | 6.7x |
Starfield Food & Science Technology Public Comps
Starfield Food & Science Technology is still privately-owned, but its public comps include AbbVie, Coca-Cola, Procter & Gamble, Nestlé, L'Oreal, Novo Nordisk, PepsiCo, AB InBev, Unilever and Monster Beverage.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $61B | $17B | 8.7x | 8.1x | 30.6x | 17.6x | |||
| $48B | $18B | 8.5x | 8.3x | 22.8x | 24.2x | |||
| $87B | $24B | 4.2x | 4.2x | 15.3x | 15.4x | |||
| $109B | $19B | 2.8x | 2.8x | 15.9x | 14.1x | |||
| $51B | $12B | 4.9x | 4.6x | 20.8x | 19.3x | |||
| $47B | $23B | 4.3x | 4.4x | 9.0x | 9.0x | |||
| $94B | $16B | 2.3x | 2.3x | 14.1x | 11.5x | |||
| $59B | $20B | 3.8x | 3.6x | 11.6x | 10.0x | |||
This data is available for Pro users. Sign up to see all Starfield Food & Science Technology competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Starfield Food & Science Technology
| When was Starfield Food & Science Technology founded? | Starfield Food & Science Technology was founded in 2017. |
| Where is Starfield Food & Science Technology headquartered? | Starfield Food & Science Technology is headquartered in Shenzhen, China. |
| Is Starfield Food & Science Technology publicly listed? | No, Starfield Food & Science Technology is a private, VC-backed company. |
| How much funding has Starfield Food & Science Technology raised? | Starfield Food & Science Technology has raised $125M across 4 funding rounds. |
| What was Starfield Food & Science Technology's last funding round? | Starfield Food & Science Technology's last funding round was a $100M Series B in January 2022, led by Primavera Capital Group. |
| Who are Starfield Food & Science Technology's investors? | Starfield Food & Science Technology's investors include Matrix Partners China, Sky9 Capital, Joy Capital, Lightspeed China Partners, Primavera Capital Group, Hong Chang Biotechnology, Ming Zeng and Unovis Asset Management. |
| Which companies are comparable to Starfield Food & Science Technology? | Companies comparable to Starfield Food & Science Technology include Impossible Foods, Believer Meats, Eat Just, Oatside, Unilever and Hindustan Unilever. |
| How many companies has Starfield Food & Science Technology invested in? | Starfield Food & Science Technology has invested in 1 company, including MegaRobo. |
| What was Starfield Food & Science Technology's last investment? | In May 2021, Starfield Food & Science Technology invested in MegaRobo's $65M undisclosed-stage round alongside Matrix Partners China, Wuxi AppTec, Joy Capital and 4 other investors. |
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