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Evo Foods | Indian plant-based eggs made from mung beans and chickpeas

2026.03.26

Article summary

Evo Foods is a plant-based egg startup founded in Mumbai in 2019. Its co-founders are Shraddha Bhansali, Kartik Dixit, and Stephanie Downs. Using only beans that can be grown within India, namely mung beans, chickpeas, and peas, it offers a liquid egg, a boiled-egg type that holds together when heated, and egg patties. Cumulative funding is about 845,000 dollars, with no additional raise confirmed since April 2021. It has 4 employees (as of the end of August 2026) and has stayed small.

This article is based on what we could verify As of September 19, 2026 This page is compiled from the disclosures and news reports of each company that could be confirmed as of that date. Amounts in the text follow common Indian notation, with ₹1 crore (1 crore = 10 million rupees) written as 10 million rupees, and the yen figures are rough calculations at around 1.7 yen to the rupee. Store counts, funding amounts, and results at Indian companies change over short periods, so please check the latest information in primary sources such as each company's official announcements when making business decisions.

Evo Foods is a food tech company in Mumbai making plant-based eggs. What sets it apart from other egg alternatives is that it uses no imported ingredients and builds its products only from beans that can be grown in India.

Company profile

Item	Details
Year founded	2019
Headquarters	Mumbai (Maharashtra)
Co-founders	Shraddha Bhansali, Kartik Dixit, Stephanie Downs
Revenue	Not disclosed
Employees	4 people (as of the end of August 2026, per Tracxn)
Total funding raised	About 845,000 dollars (3 rounds, the most recent in April 2021)
Listing	Unlisted
Main products	A liquid egg alternative, a boiled-egg type that holds its shape when heated, and egg patties

Choosing ingredients that do not rely on imports

The ingredients are mung beans, chickpeas, and peas. All can be grown within India, and the company says it chose them with a structure in mind that does not depend on imported inputs. Many egg alternatives are designed around soy or imported legume protein, so keeping ingredient sourcing entirely domestic is the point of difference.

It started with the liquid egg and widened its range to a boiled-egg type that holds its shape when heated and to egg patties. Sales run through three routes, foodservice, D2C, and retail, shipped from Mumbai, Delhi, and Bengaluru. A test sale held at Jio World Drive in Mumbai was reported to have sold out within hours.

The company has stayed small

The last publicly reported funding is the seed round of April 2021, and no addition to the cumulative total of about 845,000 dollars can be confirmed. Headcount is 4 (as of the end of August 2026, per Tracxn). The company is active as a legal entity, but there is not enough disclosed track record to consider it as a contract partner for volume production.

Eggs are cheap to buy in India. Egg alternatives face the question of how to close that price gap, and while the company has set a target of matching the price range of conventional eggs, it has not published how far it has got. It is worth keeping an eye on as a case for the direction of the technology, and looking at it as a business partner will come once disclosure increases.