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
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