ImpactAlpha, August 26 – With the swell of plant-based food and consumer products hitting the market, Singapore-based Abillionveg is trying to help consumers find and share information about them more easily. The Singapore-based company’s $2 million funding round marks another datapoint in investor appetite for startups catering to a growing, sustainability-minded vegan population and market.
Abillionveg calls itself a mission-driven company. Its founder, Vikas Garg, advocates for veganism, but says the company’s secondary mission it to inspire more informed and sustainable consumption generally. “It’s about raising awareness around these issues and catalyzing a movement, one which we think will be the biggest trend in sustainability in the next 20 years,” Garg said in an interview with Reuters.
The company claims to have 50,000 reviews on its site for products and foods in Singapore, Canada, the U.K., Hong Kong, and the U.S. It incentivizes user activity with credits that can be converted to donations to animal welfare organizations.
Its funding round was backed by 500 startups, Calibre Ventures, Blue Horizon Group, 1/0 Capital, and U.S. and Asia-based family offices to grow its platform.
