Peanut to protein: Pune startup bets big on plant-based nutrition

The foundational belief in Proeon, set up by Kevin Parekh and Ashish Korde, veterans of nutraceutical and pharmaceutical ingredients sectors, is that the world's food habits, largely dependent on animal sources, were not going to be sustainable for very long.

4 min readPuneAug 18, 2026 11:34 AM IST

Kevin Parekh and Ashish Korde (Express Photo/Special Arrangement)

A spoonful of peanut protein powder dissolved in a glass of water has become an essential part of Kevin Parekh’s routine. This is not only a dietary habit but also an assertion of a much larger idea – to promote plant-based protein as an alternative to animal sources.

Parekh and Ashish Korde, veterans of nutraceutical and pharmaceutical ingredients sectors, set up their company, Proeon, in 2018. Coincidentally, the same year, the then Vice President of India, M Venkaiah Naidu, had addressed the National Consultation on Leveraging Agriculture for Nutrition in Delhi and said that “protein deficiency due to inadequate consumption of pulses, meat and eggs” was a persistent problem in India.

Parekh and Korde set out with a vision to upgrade India’s protein intake using only plant sources. Since then, Proeon has recorded an eight-fold growth in revenues between 2024 and 2025. Between 2025-27, they expect to grow a further five times.

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The foundational belief in Proeon is that the world’s food habits, largely dependent on animal sources, were not going to be sustainable for very long. “People eat a lot of meat and eggs to meet their protein requirements. The amount of land required to grow crops to feed those animals and the amount of water needed to raise them is enormous. It appears that, by the time we reach a 10 billion global population, we would require more than one Earth to feed everybody,” says Parekh.

The United Nations, too, says that “animal-based foods, especially red meat, dairy, and farmed shrimp, are generally associated with the highest greenhouse gas emissions. Plant-based foods, such as fruits and vegetables, whole grains, beans, peas, nuts, and lentils – generally use less energy, land, and water, and have lower greenhouse gas intensities than animal-based foods.”

The search for sustainable plant protein

The Proeon team spent years focused on answering one question: Could plant-based proteins become a viable alternative to animal proteins without forcing consumers to compromise on taste, nutrition or affordability?

The founders, scientists and researchers studied nearly 40 crops native to India, such as cereals, millets, oilseeds and pulses, and evaluated them on four parameters — nutrition, taste and other sensory properties, functionality and supply-chain availability.

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Working out of a laboratory at the Central Food Technological Research Institute in Mysuru, the startup shortlisted a handful of crops, including moong beans and peanuts, before finalising their flagship product, a peanut protein called Proeon Peanut 80, which is an 80 per cent pure protein isolate rich in fiber and healthy fats, easy digestibility and clean sensory properties.

More than 25 brands, globally, from young startups to mid-sized companies to large multinational food companies use Proeon’s protein ingredients to create products, ranging from protein bars, high-protein flour, protein powders, cookies, and snacks that are sold in India, the US and Europe.

“India is one of the world’s top producers of groundnut, and we get our raw material from Gujarat. We currently work out of Venture Center in Pune, where we have got solid support from the entire team. But we also have two factories outside of Pune where we produce our peanut protein,” says Parekh.

This is where they are making 150 – 200 metric tonnes of protein isolates and concentrates per month, with an additional 500 metric tonnes per month capacity expansion underway. “This is going to increase as the world becomes more aware of clean eating,” says Parekh.

Dipanita Nath

Dipanita Nath is a Senior Assistant Editor at The Indian Express, based in Pune. She is a versatile journalist with a deep interest in the intersection of culture, sustainability, and urban life. Professional Background Experience: Before joining The Indian Express, she worked with other major news organizations including Hindustan Times, The Times of India, and Mint. Core Specializations: She is widely recognized for her coverage of the climate crisis, theatre and performing arts, heritage conservation, and the startup ecosystem (often through her "Pune Inc" series). Storytelling Focus: Her work often unearths "hidden stories" of Pune—focusing on historical institutes, local traditions, and the personal journeys of social innovators. Recent Notable Articles (December 2025) Her recent reporting highlights Pune’s cultural pulse and the environmental challenges facing the city during the winter season: 1. Climate & Environment "Pune shivers on coldest morning of the season; minimum temperature plunges to 6.9°C" (Dec 20, 2025): Reporting on the record-breaking cold wave in Pune and the IMD's forecast for the week. "How a heritage tree-mapping event at Ganeshkhind Garden highlights rising interest in Pune’s green legacy" (Dec 20, 2025): Covering a citizen-led initiative where Gen Z and millennials gathered to document and protect ancient trees at a Biodiversity Heritage Site. "Right to breathe: Landmark NGT order directs PMC to frame norms for pollution from construction sites" (Dec 8, 2025): Reporting on a significant legal victory for residents fighting dust and air pollution in urban neighborhoods like Baner. 2. "Hidden Stories" & Heritage "Inside Pune library that’s nourished minds of entrepreneurs for 17 years" (Dec 21, 2025): A feature on the Venture Center Library, detailing how a collection of 3,500 specialized books helps tech startups navigate the product life cycle. "Before he died, Ram Sutar gave Pune a lasting gift" (Dec 18, 2025): A tribute to the legendary sculptor Ram Sutar (creator of the Statue of Unity), focusing on his local works like the Chhatrapati Shivaji statue at Pune airport. "The Pune institute where MA Jinnah was once chief guest" (Dec 6, 2025): An archival exploration of the College of Agriculture, established in 1907, and its historical role in India's freedom struggle. 3. Arts, Theatre & "Pune Inc" "Satyajit Ray, Ritwik Ghatak were not rivals but close friends, says veteran filmmaker" (Dec 17, 2025): A deep-dive interview ahead of the Pune International Film Festival (PIFF) exploring the camaraderie between legends of Indian cinema. "Meet the Pune entrepreneur helping women build and scale businesses" (Dec 16, 2025): Part of her "Pune Inc" series, profiling Nikita Vora’s efforts to empower female-led startups. "How women drone pilots in rural Maharashtra are cultivating a green habit" (Dec 12, 2025): Exploring how technology is being used by women in agriculture to reduce chemical use and labor. Signature Style Dipanita Nath is known for intellectual curiosity and a narrative-driven approach. Whether she is writing about a 110-year-old eatery or the intricacies of the climate crisis, she focuses on the human element and the historical context. Her columns are often a blend of reportage and cultural commentary, making them a staple for readers interested in the "soul" of Pune. X (Twitter): @dipanitanath ... Read More

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