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Problem Statement

According to the UN, the world population is expected to increase to 9 billion by 2050. The demand for meat is also expected to double by 2050, due to an increase in population and wealth. As such, humans need to look for alternatives to meat in order to ensure adequate food supplies for the entire population, hence, the increasing importance of alternative protein sources such as plant-based proteins. Though the alternative protein space is currently booming, most of the products in the market are suited to the western world with multiple stages of processing (e.g. burger patties, steaks etc).

Solution

To provide a minimally processed plant protein option which is shaped to the taste buds of Asian consumers. 

Product

Through innovative R&D, Angie's Tempeh product ranges from raw tempeh to ready-to-eat products. 

Raw Tempehs - Halal Certified and ISO2200 Certification

• Organic Soybean Tempeh
• Organic Chickpea Tempeh
• Organic Buckwheat Tempeh
• Organic Quinoa Tempeh

Ready-to-eat Tempehs

• Tempeh Bak Kwa - Pilot was sold out in 2 weeks with over 1,000+ individuals on wait list. Generating over $400k in revenue.

Traction

• Lifetime Sales: S$1.4m
• Total Orders: 20,000+
• Returning Customer Rate: 24%
• Average Order Value (AOV): $57
• 18,000+ followers across various social media channels

Revenue Model

B2B (Distributors, Restaurants and Retailers)

Supermarkets

Restaurants & Distributors

B2C - Direct to consumer via Shopify (angiestempeh.com) 

B2C is the main revenue channel, accounting for majority of sales. 

Fundraising

Angie's Tempeh is raising a SGD$1M seed round at a SGD$5.5M pre-money valuation. 50% of the rounds secured in soft commitments.

Previously raised SGD$500K BIG IDEA Ventures (https://bigideaventures.com/) and angel investors.

Use of Funds

• New equipment (5%)
• Legal fees (7%)
• Listing fees in SG supermarkets (11%)
• Food technologists hires (12%)
• Buffer (15%)
• R&D new products (25%)
• Growth and marketing (25%)

Burn Rate

$10 - $15k / monthly

Cash in bank: $192k

Runway: 12 months

Team