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Protein Market Raises New Investment, Eyes Expansion

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Aug 30, 2021

Protein Market, a Dhaka-based agrotech startup, announced that it has raised its first round of angel investment led by M Asif Rahman, founder of WPDeveloper and ARCom, and participated by Nazmul Hasan Rupok, Chief Executive Officer of WPDeveloper, Jahangir Alam, Co-Founder and COO of eFoli, and Md. Shahjahan, CEO of Auth Lab. The company did not disclose details of the deal. 

Founded in 2020 by Shafiul Alam and Sharmin Sultana, Protein Market says it provides safe protein products to B2B and B2C customers and aims to build a safe and organic food chain and farming networks. With the fresh fund, the company aims to push the growth and accelerate its market development activities. 

Shafiul Alam, Co-Founder and Managing Director of Protein Market said, “People have many questions about the safety of fish and meat in this country. A certain amount of dissatisfaction exists over the fact that the meat is not processed in a healthy environment. Our team is working tirelessly to educate people about health issues as well as healthy eating habits. We strive to ensure safe and hygienic processing, quality packaging, and a safe delivery system. We hope to expand our activities even further with this round of funding." Protein Market is organizing Hilsa Carnival and recipe competition during this Hilsa season. 

Sharmin Sultana, Co-Founder of Protein Market, said, “We have the opportunity to expand nationally and subsequently in international markets. We are lucky to have a bunch of visionary investors with us on this journey as part of our pre-seed rounds investments.” 

M Asif Rahman is a successful technology entrepreneur and prolific angel investor. Over the years, he has backed more than 25 startups. Regarding the 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 its inception. All in all, we believe that the potential of the Protein Market is immense.”

The other investors mentioned: ‘We believe Protein Market operates in an exciting market and has a huge opportunity. The new investment will allow the company to invest in various areas including infrastructural development, manpower, equipment, technical assistance. We believe that the Protein Market will bring positive changes in our life, in the rural economy, and in society in the coming years.”

Protein Market with an ambition to deliver protein-based food to people safely. The company has since been working to build awareness regarding the importance of safe and unadulterated protein foods and encourage healthy eating habits among its consumers. The company sources and sells meat of local breeds of chickens, ducks, cows, and safe farmed fish and delivers them to people’s doorsteps. The company works with marginal farmers to commercialize the production of domestic chicken in a free-range farming system. Efforts are being made to cultivate fish in a natural way. The demand for safe beef is being supplied by keeping the farmers motivated to produce safe meat. Besides, the company has also been working to supply marine fish and organic dried fish. With the new investment, the company aims to accelerate its growth push. 

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