Discourse with Cellivate's Founder, Viknish Krishnan-Kutty, delving into his ardor for enterprise and startup adventures

Cellivate Technologies, a startup founded by Dr. Viknish Krishnan-Kutty, has been making waves in the industry with its focus on animal-free solutions for skincare, cultivated leather, and cultivated meat. The company gained prominence after participating in The Big Spark, a program featuring startup founders pitching their business ideas to investors.

During the finale of The Big Spark, Cellivate secured investment offers totalling SGD 850,000 (USD 627,930). Since then, the company has been actively pursuing new prospects, particularly in skincare and cell therapy. The next goal of Cellivate Technologies is to expand its operations, and the planned financing round is being led by the investment company GCA Altium.

Dr. Krishnan-Kutty, an academician by trade, founded Cellivate out of a personal concern for animal cruelty in livestock rearing. He adopted a vegetarian lifestyle and started abstaining from animal-based products. Cellivate uses stem cells to produce common ingredients, not to include stem cells in the products themselves, as clarified by Dr. Krishnan-Kutty.

As of 2021, 23% of global consumers try to limit their meat intake, with 16% striving to follow a plant-based diet. Around 19% of those who are willing to switch to plant-based alternatives cite animal welfare as a factor. The global plant-based industry could reach a valuation of over USD 162 billion by 2030, indicating a growing market for companies like Cellivate.

However, growth for Cellivate will prove difficult due to the many challenges ahead, including tackling misconceptions about cell-based products. The National Medical Products Administration (NMPA) advised against stem cells in cosmetics due to insufficient research, which could impact public perception of cell-based products in skincare.

Krishnan-Kutty has expressed interest in entering other markets, including China, but skincare market entry can be complicated due to potential challenges with accessibility and compatibility. To help with this, Cellivate recently collaborated with Medtech Actuator in Melbourne to seek connections with pharmaceutical and cell therapy companies.

In addition, Antler, one of Cellivate's new investors, is providing connections in South Korea, which has a robust skincare import market valued at USD 485 billion as of 2023. Sebastian, founding partner of Rigel-Farro Capital, offered to lead Cellivate's SGD 3.3 million (USD 2.4 million) seed funding round. Discussions between Cellivate and Rigel-Farro Capital remain ongoing, although Rigel-Farro may postpone its investment until Cellivate's next, larger funding round.

Krishnan-Kutty acknowledged that a lot of entrepreneurs go through more lows than highs. Despite these challenges, he remains optimistic about the future of Cellivate Technologies and the impact it can make in the world of animal-free solutions. The company's pursuit of new prospects and upcoming financing round indicate a promising future for this innovative startup.