Green Rebel Foods, Indonesia’s first plant-based meat company, has secured US$12.5 million in its latest funding round, lifting its valuation to nearly US$18 million as of early 2026. With this investment, the company continues to strengthen its position in the rapidly evolving alternative protein sector.
Founded in October 2020 and headquartered in Indonesia, Green Rebel Foods focuses on developing Asian-flavoured plant-based meats, including products such as beefless rendang and satay. Since closing its seed round, the company has raised a cumulative US$15 million, reflecting growing investor confidence in its vision and execution.
Notably, the latest funding round attracted participation from Unovis NCAP Fund II, Teja Ventures, and Agfunder Alternative Protein Fund I. While the company has not disclosed its 2024 revenue figures, it continues to prioritise building strategic partnerships with major food-service brands to scale distribution and market penetration.
Meanwhile, the broader shift toward plant-based diets across Southeast Asia highlights rising consumer demand for alternatives that reflect local culinary traditions. Increasingly, consumers are opting for culturally familiar options such as jackfruit-based pork substitutes and traditional soy-based foods like tempeh, reinforcing the relevance of regionally inspired products.
At the same time, the Southeast Asian plant-based food market remains highly competitive. Multinational corporations such as Nestlé and Danone, alongside a growing number of regional startups, actively introduce similar innovations to capture consumer interest and market share.
However, the sector continues to face structural challenges. In particular, the heavy dependence on imported soybeans exposes plant-based manufacturers to price volatility and supply chain disruptions, which can impact production costs and long-term scalability.
Overall, Green Rebel Foods’ latest funding round underscores the rising momentum behind plant-based meat innovation in Southeast Asia. By combining culturally relevant flavours with strong investor backing, the company positions itself to capitalise on growing regional demand. Nevertheless, addressing supply chain vulnerabilities and maintaining differentiation in a crowded market will remain critical as Green Rebel Foods scales its operations and partnerships in the years ahead.
