"Over the past two years, we've seen a large shift in consumers' food habits and growing interest in healthy and sustainable food products and brands. Millennials and Gen Z customers are generally more open-minded to the idea of purchasing and consuming new food products. This is a core driver for the growth of the alternative protein industry,” said Kevin Wu, founder & CEO of Ento. “In terms of investment, there has been a tremendous increase in investors' appetite for deals in the alternative protein sector.”
Via the ECF campaign, investors can invest as little as US$1,250 for shares in a fast-growing food tech company, Wu added. The company chose to launch on Fundnel, a Singapore-based private investment technology platform. In the past, Fundnel raised money for brands such as SpaceX, Grab, WeWork in South-east Asia.
Ento is currently in its first revenue stage and commercialising its products by working with online and offline retailers and securing key distribution channels with its recent launch on e-commerce platform Amazon in the US.
The proceeds from the ECF round will help transition the business into a sustainable food ingredient producer. “We will be selling new products such as our Ento burger patty to food service companies,” Wu concluded. (Image from Pixabay)
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