A sample of dish application of OFF MEAT
Indonesia-based foodtech startup OFF FOODS today announced a US$1.7 million seed funding round led by Alpha JWC Ventures with the participation Global Founders Capital (GFC) and other strategic investors including Creative Gorilla Capital, Lemonilo, and United Family Capital (UFC).
The company plans to use the funding to support its research and development to offer new variations of its flagship product OFF MEAT, a chicken-like alternative protein, starting with other chicken-like options such as nuggets. The company will also continue to expand to other cities in Indonesia while also launching a direct-to-customer game plan to reach more users.
“We are doing more than just selling food. We are trailblazing a lifestyle change in Indonesia that hopefully will result in a healthier society and more sustainable earth. OFF MEAT and Indonesia are only our starting points. We are pleased to receive such enthusiasm from our new and existing investors, including established experts in the F&B industry, and we are excited to move forward with our product innovation, nationwide expansion soon, and eventually regional expansion in 2024,” said OFF FOODS co-founder and CEO Dominik Laurus in a press statement.
Founded in 2021 by serial entrepreneurs Laurus and Jhameson Ko, OFF FOODS aims to be the leading alternative protein brand in Indonesia and beyond.
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Price has been one of the key barriers for customers to adopt alternative protein products and embrace a plant-based lifestyle, and OFF FOODS aims to solve this issue by providing a more affordable alternative.
Since its launch in August 2021, the company said that OFF MEAT has seen 10x growth in adoption through business-to-business (B2B) partnerships with restaurants. Its products are currently available in seven cities in Indonesia through its partner restaurants.
OFF FOODS plans to continue expanding the list of F&B businesses that it is teaming up with.
In Indonesia, another startup that is working in the alternative protein space is Burgreens.
For lead investor Alpha JWC Ventures, this announcement was announced only a day after the announcement of its investment in Hangry, another Indonesia-based foodtech startup.
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Image Credit: OFF FOOD
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