Archive · 18 Aug 2026
Pune startup Proeon bets big on plant-based peanut protein
A man named Kevin Parekh and his business partner Ashish Korde started a company called Proeon in 2018.
They wanted to help people get enough protein without eating lots of meat and eggs.
Their special ingredient is a powder made from peanuts.
This powder is called Proeon Peanut 80 and it is 80 percent pure protein.
The company studied almost 40 crops from India before choosing peanuts and moong beans.
Today, more than 25 brands use Proeon's protein to make snacks, cookies, protein bars and powders.
These products are sold in India, the United States and Europe.
The company has grown very quickly, with its earnings growing eight times between 2024 and 2025.
Proeon believes plant-based food is better for the planet because raising animals needs a lot of land and water.
Pune-based startup Proeon, founded in 2018 by Kevin Parekh and Ashish Korde, makes plant-based protein from peanuts.
Its flagship product, Proeon Peanut 80, is an 80% pure protein isolate rich in fiber and healthy fats.
The company recorded eight-fold revenue growth between 2024 and 2025 and expects five-fold growth from 2025 to 2027.
More than 25 brands use Proeon's ingredients for protein bars, high-protein flour, protein powders, cookies and snacks sold in India, the US and Europe.
Proeon currently produces 150-200 metric tonnes of protein isolates and concentrates monthly, with a 500 metric tonne per month capacity expansion underway.
- Who
- Kevin Parekh and Ashish Korde, veterans of the nutraceutical and pharmaceutical ingredients sectors, who co-founded the Pune startup Proeon.
- What
- Proeon makes plant-based protein ingredients from peanuts, including its flagship 80% pure protein isolate, Proeon Peanut 80, used in protein bars, flours, powders, cookies and snacks.
- When
- Proeon was founded in 2018; it saw eight-fold revenue growth between 2024 and 2025 and expects five-fold growth between 2025 and 2027.
- Where
- The startup works out of the Venture Center in Pune, sources raw material from Gujarat, did research at CFTRI in Mysuru, and sells products in India, the US and Europe.
- Why
- To upgrade India's protein intake using sustainable plant sources instead of animal-based foods, which the founders say require enormous amounts of land and water.
- Company
- Proeon
- Founders
- Kevin Parekh and Ashish Korde
- Founded
- 2018
- Flagship product
- Proeon Peanut 80, an 80% pure protein isolate from peanuts
- Production capacity
- 150-200 metric tonnes per month, with 500 metric tonnes per month expansion underway
- Growth
- Eight-fold revenue growth between 2024 and 2025; five-fold growth expected 2025-27
- Customers
- More than 25 brands globally
- Markets
- India, the US and Europe