Off Foods, Food Technology Startup Gets US$1.7 Million Seed Funding

Arfi Bambani
Off Meat burger by Off Food
Off Meat burger by Off Food - Indonesian food technology startup Off Foods announced seed funding of US$1.7 million (approximately Rp24.5 billion) from Alpha JWC Ventures, with the participation of Global Founders Capital (GFC) and several other strategic investors such as Creative Gorilla Capital, Lemonilo, and United Family Capital (UFC).

With the latest funding, Off Foods will invest further in research and development of new variations of Off Meat, starting with nuggets. Off Foods will also continue to expand to other cities in Indonesia and start reaching consumers directly.

"Off Foods doesn't just sell food. We are pioneers of lifestyle changes in Indonesia, with the hope of producing a healthier society and a more sustainable earth. Off Meat and Indonesia are just our starting points. With the enthusiasm of our investors, Off Meat Foods is ready to move forward for product innovation and national expansion, as well as regional expansion in 2024," said Dominik Laurus, founder and CEO of Off Foods in a statement on Wednesday, April 20, 2022.

Eko Kurniadi, Partner at Alpha JWC Ventures, assessed that so far, alternative protein is difficult to develop in developing countries like Indonesia because of the premium price. "However, more and more consumers are now turning to plant-based products for health and environmental issues. This is the right time for OFF FOODS to come up with delicious products, a strong market strategy, and the best price offers. We believe OFF FOODS will be driving the adoption of alternative proteins for the wider community in Indonesia."

The startup, founded in 2021 by Dominik Laurus and Jhameson Ko, launched a product called Off Meat, a chicken meat substitute, in August last year. The taste that is claimed to be delicious, Off Meat contains low cholesterol levels, high protein, low saturated fat levels, and is high in fiber, minerals, vitamins, and antioxidants.

"Off Meat comes at an affordable price: only half the price of similar meat alternative products on the market. This is a solution for culinary businesses looking to venture into the plant-based meat sector. Our products are affordable and easy to adapt to a variety of recipes and chef techniques. Consumers can enjoy familiar flavors from restaurants and be part of a more sustainable future," said Jhameson Ko, founder and CPO of Off Foods.

Jhameson Ko said since its launch, the Off Meat business has grown more than 10 times through business-to-business (B2B) partnerships with various restaurants. With flexible uses, ranging from fried chicken, nuggets, to sambal matah ayam, Off Meat is easily accepted by restaurant managers and consumers.

Off Meat is now available in seven cities (Jabodetabek, Bandung, Surabaya, Medan, Yogyakarta, Makassar and Bali) through OFF FOODS partner restaurants, such as Italian restaurant Mamma Rosy (South Jakarta), FITCO Eats catering, Gaaram franchise and Wanfan. OFF FOODS will also be coming soon at 40+ Mangkokku outlets on the island of Java, 20+ Zenbu Japanese restaurant outlets, and eight Byurger outlets.

Tag # food technology startup # off food # indonesia startup # food industry

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