The UK’s leading tempeh brand, Better Nature, has launched a £3m Series A fundraising round to fuel mainstream retail growth for its tempeh range in the UK & Europe, starting with a nationwide supermarket listing in Tesco in more than 400 stores.
The brand, which was founded in 2019, specialises in tempeh: a 100% natural and nutritious cultured plant-based food from Indonesia, with double the protein content of tofu and more fibre than an apple.
The raise, which follows a £1.6m seed round in 2021 and a £700k seed plus round late last year, is being led by institutional investors, angels and value-add strategic investors who share the brand’s vision to help people live healthier and more sustainable lives through tempeh.
The funding will be used to drive retail and foodservice growth for its tempeh range in the UK and Europe, starting with the launch in Tesco on 1st June, closely followed by another major UK supermarket in July.
It will also support existing listings with Selfridges, Mindful Chef, Planet Organic and allplants in the UK, and REWE in Germany, as well as expanding into more European countries and the US by 2025.
NPD will also be key, creating mainstream appeal with the development of tempeh-based burgers, falafels and veggie balls; familiar formats that capitalise on growing demand for convenience in the category, whilst appealing to health conscious shoppers looking for all-natural, high-protein, gut-friendly foods.
Better Nature’s Co-Founder and CEO, Christopher Kong, says:
“With Better Nature set to grow 300% by the end of 2023, this raise consolidates our position as Europe’s go-to tempeh brand and marks the year we take tempeh mainstream in the UK.
“When we founded the brand four years ago, tempeh was a niche product in the UK market. Now, we’re launching into Tesco and scaling up wider distribution across retail and foodservice in Europe.
“The market is moving towards more natural and healthful products, which opens up a huge opportunity for Tempeh, which is 100% natural, gut-friendly, and packed with protein and fibre.
“As our customer base widens, getting the messaging right is key. We’re not trying to compete with meat alternatives, which mimic the texture and taste of meat. Instead, we’re celebrating tempeh as a plant-based protein in its own right.
“For shoppers who are new to tempeh, convenience is also important. Our NPD will be focused on introducing people to tempeh in tried and tested formats that are familiar and convenient.
“As a brand, our mission has always been to help more people live healthier lives through tempeh, and we’re proud to be steering its journey to the mainstream.”
Peter Marsh, Non Executive Director at Better Nature (and former Planet Organic CEO) adds:
“Over the course of my career I’ve been involved with a number of brands who have demonstrated genuine potential to go the distance. Better Nature is one of them. This is a significant milestone in the brand’s journey to make tempeh mainstream, and we are on course to make tempeh a household name in the UK and beyond.”
Source: Better Nature
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