Sixth Sense Ventures Invests In GoodDot, An Alternate Meat Manufacturing Company
- ByAyushi Ray | August 3, 2021
Sixth Sense Ventures invests in GoodDot, an alternate plant based meat manufacturing company. This would be the first VC investment for the plant-based meat company in India.Sixth Sense investment will enable Udaipur-based GoodDot to further strengthen its status in the plant-based meat space in India while growing internationally as well, on the back of increased emphasis and spend on R&D, marketing, and channel broadening. The Company sells through direct-to-consumer channels, e-commerce platforms as well as 7500+ offline stores. GoodDot has recently launched its products in Canada, Dubai, Nepal, South Africa, and Singapore, and plans to cover the US and Europe in the months ahead. It is also working on expanding the rollout of its retail QSR outlets under two formats ‘GoodDo’ and ‘GoodKhana’, which are currently in Mumbai, Delhi, Udaipur, and Kathmandu.
“We are delighted to have concluded this round of funding with Sixth Sense Ventures, led by Nikhil Vora. The synergy and alignment of both the vision and the expertise with Nikhil and the Sixth Sense team is something which excites us beyond words. This is the epitome of an ESG-focussed investment. We are confident this strong partnership will enable GoodDot to position itself as a force to be reckoned within the space of plant-based meats not only in India but across the world,” says Abhishek Sinha, CEO & Co-founder of GoodDot. Meat substitutes manufacturing industry is globally evaluated at a $20 billion market, which according to experts, is just a tip of the iceberg. They are also gaining power to compete with the $1.4 trillion organised meat industry. With pandemic raging, people have started shifting towards these alternative meat products, which is boosting such organisations as well. India has started slow, but is liking the taste of alternate meat, which might benefit GooDot to a large extent for future purposes.
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