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

Starfield Food & Science Technology Overview

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

ChinaShenzhen

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

Starfield Food & Science Technology funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2022Series BPrimavera Capital Group (lead); Lightspeed China Partners; Matrix Partners China; Sky9 Capital; Joy Capital; Ming Zeng; Unovis Asset Management$100MStarfield 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 2020Series ALightspeed China Partners (lead); Matrix Partners China; Sky9 Capital; Joy Capital$15MStarfield 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 2020Series ASky9 Capital (lead); Matrix Partners China; Joy Capital$10MStarfield 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 2019Strategic investmentHong 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

Investors in Starfield Food & Science Technology by funding rounds participated
InvestorHQRoundsRoleFirst check
Matrix Partners ChinaChinaBeijing3ParticipantAug 2020
Sky9 CapitalChinaShanghai3LeadAug 2020
Joy CapitalChinaBeijing3ParticipantAug 2020
Lightspeed China PartnersChinaShanghai2LeadOct 2020
Primavera Capital GroupChinaBeijing1LeadJan 2022
Hong Chang BiotechnologyChinaSuzhou1ParticipantAug 2019

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments 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

MegaRobo
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 CountryChina
HQ City
-
Deal Date28 May 2021
RoundUndisclosed stage
Raised$65M
InvestorsMatrix Partners China; Wuxi AppTec; Joy Capital; Bosch Ventures; Future Capital; Sinovation Ventures; Nice Tuan
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to Starfield Food & Science Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Impossible FoodsUnited StatesSan Francisco, CAPrivate$460M-$7B15.2x
Believer MeatsIsraelJerusalemPrivate--$900M-
Eat JustUnited StatesSan Francisco, CAPrivate--$750M-
OatsideSingaporeSingaporePrivate$37M-$705M-
UnileverUnited KingdomUnited KingdomPublicly listed$58B$12B$134B2.8x
Hindustan UnileverIndiaIndiaPublicly listed$6.7B$1.6B$47B6.7x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Coca-Cola$48B$18B8.5x8.3x22.8x24.2x
Procter & Gamble$87B$24B4.2x4.2x15.3x15.4x
Nestlé$109B$19B2.8x2.8x15.9x14.1x
L'Oreal$51B$12B4.9x4.6x20.8x19.3x
Novo Nordisk$47B$23B4.3x4.4x9.0x9.0x
PepsiCo$94B$16B2.3x2.3x14.1x11.5x
AB InBev$59B$20B3.8x3.6x11.6x10.0x

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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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