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ento

food of the future

Malaysia
Market: Food industry, Farming
Stage of the project: Operating business

Date of last change: 28.05.2020
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Idea

ento is an alternative protein company specialising in edible insects. ento is looking to be the next Beyond Meat / Impossible Foods for edible insects. Insects are highly nutritious and sustainable to farm and is widely cited as the future of food.

Current Status

Growth stage start up

- Post Seed led by Singaporean VC
- 180% month on month revenue growth
- Profitable by Q3 2020
- Serving customers across Malaysia, Singapore, Australia and USA

Market

Total addressable market
- $2.2 trillion USD agriculture market
- $85 billion USD alternative protein market
- $8 billion USD edible insect market

Problem or Opportunity

- World population will hit 10 billion by 2050
- Need to increase food production by 70%
- Millennials and Gen Z are increasingly looking for healthier and more sustainable food products
- Demand for alternative protein sources is GROWING

Solution (product or service)

Edible insects in:
- Whole roasted
- Granolas
- Cookies
- Burger patties

3x more protein than chicken, 7x more iron than kale, 4x more fibre than oatmeal. 20x more efficient to farm compared to beef.

Competitors

Entomo Farms Canada
Aspire Food Group USA

Advantages or differentiators

- Cost or production lower average 35% based in warm and humid Malaysia
- Product development powerhouse - collaboration with 2 Michelin Starred chef
- Focus on food tech
- Focus on marketing

Finance

Price point range from $5 - 8 USD per pack.

- Gross average profit margins 77%
- Current revenues $6,000 USD / month
- Opex $6-7,000 USD / month

Business model

Core activities:
- R&D farming (feed, housing, life cycle)
- Foodtech
- Marketing
- Distribution

Engage third party farmers to supply insects and we re-market

Direct selling to
B2C
B2B
B2B2C

Money will be spent on

1. Facility expansion to state of the art food tech facility
2. Food tech talent
3. Marketing
4. Automation, IoT sensors for farming

Offer for investor

US$1-3m for 20% equity

Team or Management

Risks

- Consumer adoption slower than anticipated
- Unable to get a sticky product for consumers
- Competitors raising more money

Incubation/Acceleration programs accomplishment

500 Startups Global Launch Batch 1 (W2019) based in San Francisco and Singapore

Invention/Patent

Trademark 'ento'

ento is short for entomophagy, practice of eating insects.

Photos

Photo 1 - food of the future
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video