Discussion with Cellivate's Founder, Viknish Krishnan-Kutty, on the topic of zeal and business ventures

Cellivate Technologies, a Singapore-based deep-tech startup specializing in animal-free solutions for skincare, cultivated leather, and cultivated meat, has recently gained prominence after participating in The Big Spark, a program featuring startup founders pitching their business ideas to investors.

Founded by Viknish Krishnan-Kutty, a former academic with a passion for animal welfare, Cellivate Technologies is actively pursuing new prospects, particularly in skincare and cell therapy. Krishnan-Kutty initially intended to raise SGD 350,000 (USD 258,560) for a 2.5% stake in his company on The Big Spark. However, the startup managed to secure investment offers totaling SGD 850,000 (USD 627,930) from four investors during the finale of the program.

One of the investors, Sebastian, founding partner of Rigel-Farro Capital, made a separate offer to lead Cellivate's SGD 3.3 million (USD 2.4 million) seed funding round. Another investor, Aviral Bhatnagar's AJVC, made its debut investment in Cellivate, ranging from $100,000 to $1 million in this Singapore-based startup. Antler, another new investor, has been providing connections in South Korea, a market with a robust skincare import market valued at USD 485 billion as of 2023, according to Statista.

Tackling misconceptions is one of the many challenges ahead for new ventures like Cellivate. Dev Patel, a specialist in aesthetics and regenerative medicine, echoed concerns about stem cells in skincare products, stating that they cannot perform their regenerative function in such products. However, Cellivate's use of stem cells produces common ingredients instead of including stem cells in the products themselves.

Krishnan-Kutty recently collaborated with Medtech Actuator, a medtech startup accelerator, in Melbourne. He also expressed interest in entering other markets, including China. The global plant-based industry could reach a valuation of over USD 162 billion by 2030, according to Bloomberg Intelligence, providing a significant opportunity for Cellivate Technologies.

In 2021, 23% of global consumers tried to limit their meat intake, with 16% striving for a plant-based diet, according to Euromonitor International. Around 19% of those willing to switch to plant-based alternatives do so due to concerns about animal welfare. Krishnan-Kutty himself started abstaining from animal-based products and adopted a vegetarian lifestyle due to concerns about animal cruelty in livestock rearing.

Animals are integral to various industries beyond meat, including agriculture, pharmaceuticals, cosmetics, textiles, and more. The National Medical Products Administration (NMPA) advised against stem cells in cosmetics due to insufficient research. Despite these challenges, Cellivate Technologies is optimistic about its future and the potential to revolutionize industries while addressing concerns about animal welfare.