Zhenmeat is looking to raise around $2 million of funding this year as U.S. rivals, including Impossible Foods and Beyond Meat, hope to enter the Chinese market.
One of China's plant-based meat substitute start-ups Zhenmeat is looking to raise around $2 million of funding this year.
But Zhenmeat will have to fend off challenges from more established U.S. rivals, including Impossible Foods and Beyond Meat, who have expressed their intentions to jump into the Chinese market. Zhenmeat founder Vince Lu told CNBC on Monday that the company is "talking aggressively" with investors from Europe, the U.S. and China about the funding round. The less than one-year old start-up has already raised around 5 million yuan .
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