Blockchain Marketplace VeganNation Raises US $10 Million For Global Launch

Plant-based web and mobile marketplace app VeganNation just announced it has raised US$10 million in funding from private investors and will officially launch internationally. The aim of the platform is to connect vegan businesses, organisations and people together to discover vegan products, meal-sharing services, and vegan dining. The launch of VeganNation follows a wave of other startups around the world introducing vegan-forward online platforms and connect the plant-based world. 

Closing a US$10 million funding round from private investors and Hollywood A-listers such as Jenna Dewan and Jerome Flynn joining their advisory board, Israeli company VeganNation will now be debuting their online and smartphone platform globally. Users of the platform can find 100% vegan restaurants, supermarkets and cafés, and participate in social meetups within their local plant-based community. The company uses blockchain technology and a self-developed traceable digital currency, VeganCoin, so that users can also process their purchase transactions on the app’s digital wallet. 

Commenting on the launch of VeganCoin, the company’s CEO and co-founder Isaac Thomas said: “This is a major milestone in uniting all environmentally conscious consumers worldwide into a nation founded on sustainable development, generosity, and kindness towards all living beings.” 

VeganNation is one of the many online applications and platforms springing up in the plant-based space to cater to the growing global vegan and vegetarian population. This is unsurprising, given that 2019 had been declared the “Year of the Vegan” with plant-based meat and dairy alternatives morphing into the mainstream, and meat-free lifestyles becoming increasingly common. These apps tend to be based around social content sharing for plant-based news, recipes and food recommendations, food delivery services and vegan e-commerce. Asia, in particular, has become a hotbed for the vegan market, since consumers in the region are in recent years more eco-friendly, health-conscious and open to trying meat alternatives and wish to shop ethically too.  

For instance, Beverly Hills-based online marketplace Billion Vegans launched in October last year to offer users over 4500 vegan products from a range of food-tech companies to purchase through their app. Their aim, through their app, is to make veganism accessible to all, as well as act as a vegan verifier of products where customers can trust that sellers are committed to adhering to only using plant-based ingredients and practices. The company also helps to provide consumers with additional information about how products score on the sustainability front, such as if a particular item contains palm oil. A similar online vegan marketplace, Crazy Bean, also launched last year in the United Kingdom but is more concerned with the additional ethical factors of vegan products. 

Another online platform, Beyond Animal, seeks to connect vegan businesses, investors, charities and organisations together. The platform allows companies to add their details onto the directory and publish their vegan, sustainable and animal cruelty-free certifications. Consumers on the other hand, can post content and write reviews about different eateries and products, as well as connect with other people within the plant-based community. 

Most recently, Singapore’s plant-based review app abillionveg announced a seed funding round of US$2 million following its initial launch in May 2018. Since its inception, the company has seen a 40-50% growth in major market locations including Singapore, Hong Kong, Australia, Canada, the United States and the United Kingdom.

Lead image courtesy of Pexels.