{"id":1597885,"date":"2024-04-09T09:00:00","date_gmt":"2024-04-09T09:00:00","guid":{"rendered":"https:\/\/www.greenqueen.com.hk\/?p=72072"},"modified":"2024-04-09T09:00:00","modified_gmt":"2024-04-09T09:00:00","slug":"new-zealand-plant-based-pioneer-sunfed-meats-to-shut-down-after-post-pandemic-pressures","status":"publish","type":"post","link":"https:\/\/radiofree.asia\/2024\/04\/09\/new-zealand-plant-based-pioneer-sunfed-meats-to-shut-down-after-post-pandemic-pressures\/","title":{"rendered":"New Zealand Plant-Based Pioneer Sunfed Meats to Shut Down After Post-Pandemic Pressures"},"content":{"rendered":"
\"sunfed<\/div><\/span> 5<\/span> Mins Read<\/span><\/span>\n

One of Asia-Pacific’s foremost plant-based meat companies, New Zealand-based Sunfed Meats is shutting down after facing supply chain pressure, high costs, and a loss of faith from its investors.<\/h2>\n\n\n\n

A week after it emerged that investors have slashed the company’s valuation to zero<\/a>, Sunfed Meats founder Shama Sukul Lee has confirmed that the Auckland-based plant-based meat startup is closing after nearly a decade in operation.<\/p>\n\n\n\n

In a video posted on her social media channels, Lee confirmed reports that the brand’s products were no longer available in Australia after inventory ran out in January. Its remaining stock in New Zealand is set to dry up in the next two months.<\/p>\n\n\n\n

“Despite Sunfed’s self-evident competence in unique products and manufacturing and FMCG, Sunfed’s VC investor did not see value in that. And that is of course their prerogative, as they can put their money elsewhere where they can get bigger, faster, easier valuation returns,” said Lee. “It probably needs to be said that Sunfed’s VC investors chose not to clear the way for Sunfed, but instead held on to their preferential claims, which complicated new capital options for the company.”<\/p>\n\n\n\n

Sunfed Update pic.twitter.com\/AYZTOJ8bQ1<\/a><\/p>— Shama Lee (@ShamaSukulLee) April 8, 2024<\/a><\/blockquote>