Angel + Crowdfunding
Plant‑based consumers
2015
Focus on taste and nutrition
Food technology
Founder Shama Sukul Lee raised early-stage venture capital in October 2016 to scale production of pea-protein “meats.”
Health-conscious consumers and vegans were early buyers of Sunfed’s Chicken-Free Chicken.
Startup Rollercoaster
The Spark
Engineer Shama Sukul Lee conceived Sunfed in 2014 and co-founded it in early 2015 with her husband Hayden Lee in Auckland to develop high-protein meat substitutes using pea protein. They bootstrapped with about NZ$112,000 before raising external capital.
The Peak
Sunfed’s first whole-muscle product, Chicken-Free Chicken, launched in New Zealand supermarkets. In 2016 the company raised approximately NZ$1.5 million to scale its manufacturing, product development, and distribution. In late 2018, Sunfed secured a NZ$10 million Series A led by Blackbird Ventures, NZVIF, and other investors.
The Drop
During the COVID-19 pandemic Sunfed experienced severe disruptions: sourcing ingredients and labour became more difficult, costs escalated, and despite growing demand, profit margins were squeezed.
The Reset
Sunfed expanded its product range beyond its chicken alternative to include Boar-Free Bacon, Bull-Free Beef, and Fish-Free Tuna. The company invested in a higher-hygiene food facility and improved production lines. It also increased marketing and sampling efforts via supermarkets and cafés to build brand awareness.
The Discipline
The company emphasised transparency around ingredients and processing methods. It maintained a selective product line prioritising texture, taste, and nutritional profile. R&D work included refining the use of pea protein, balancing mouthfeel, and improving iron content.
The Climb
Sunfed entered international markets, including Australia, with its expanded product suite. At its peak, the brand reported around NZ$4 million in revenue. However, in April 2024 the company announced it would shut down after investors declined further funding.
Read more
- https://www.just-food.com/news/sunfed-meats-closes-as-investors-write-off-business-says-ceo/
- https://www.rnz.co.nz/news/business/513796/new-zealand-plant-based-meat-company-sunfed-to-shut
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