Agrotech startup Protein Market receives angel investment

Protein Market Ltd, an agrotech startup working to provide safe and unadulterated protein products to the consumers, retailers, and industries has raised their first round of angel investment.

The funding round is led by M Asif Rahman, founder of 'WPDeveloper' and 'ARCom', according to a press statement by the firm. 

Nazmul Hasan Rupok, Chief Executive Officer of WPDeveloper, Jahangir Alam, Co-Founder and COO of eFoli, and Md. Shahjahan, CEO of Auth Lab, are also investing in the Protein Market.

The firm is getting around Tk1 crore from the investors at this round.

Protein Market's Co-Founder and Managing Director Shafiul Alam said, "There are various doubts in the minds of people regarding safe fish and meat in the country. We are working tirelessly to educate people regarding health issues as well as healthy eating habits. At the same time, we are also trying to ensure safe and hygienic processing, quality packaging as well as maintaining a safe delivery system."

"With this round of funding we will be able to push our activities even further,' he added.

Protein Market is organizing Hilsa Carnival and recipe competition in this Hilsa season.

Sharmin Sultana, Co-Founder of Protein Market, said, "We have the opportunity to operate our activities at the national as well as international level. With that being said, we are interested in investing in pre-seed rounds as part of a far-reaching plan, and in this case, we have been dominated by domestic visionary investors, and a few dreamy young investors have joined us as angel investors."

M Asif Rahman has been conducting business successfully in the country's technology sector for a long time, and has backed more than 25 Startups as an active angel investor.

Regarding his investment in the Protein Market, he said, 'The business concept of the Protein Market is timely, we all need safe food options. Such a brilliant initiative is imperative for the people of Bangladesh. We have closely monitored the activities and plans of the organization since inception. All in all, we believe that the potential of the Protein Market is immense. With good investment & push, it has the potential to become a sustainable business model.'

The other investors said, 'The far-reaching idea that Protein Market is starting to take off is truly remarkable. From a commercial point of view, we have analyzed that the Protein Market is a potential venture. We believe that there is a need for investment to make progress in various sectors including infrastructural development, manpower, equipment, technical assistance. We believe that the Protein Market will be able to bring about positive changes in our life, in the rural economy and in the social context as well.'

The initial activities of the Protein Market started from the initial idea of delivering protein-based food to people safely. Our daily diet may include non-animal protein, apart from animal protein as well.

The Protein Market is working proactively to raise awareness to ensure the importance of safe and unadulterated protein foods and to encourage healthy eating habits among its consumers. And keeping that goal in mind, the local breed of chickens, ducks, cows, and safe farmed fishes are being collected according to demand and Protein Market is delivering them to people's doorsteps.

The production process is going on as well simultaneously. In an attempt to commercialize the production of domestic chicken in the free-range farming system, marginal farmers are being involved as well. Efforts are being made to cultivate fishes in a natural way.

The demand for safe beef is being supplied by keeping the farmers motivated to produce safe meat. Besides, the company is meeting the demand of animal meat by supplying marine fish and producing organic dried fish.

Protein Market Limited was founded in 2020 with a vision of building a safe and organic food chain and organic farming networks.