Tempeh brand, Better Nature, has launched a £3m Series A fundraising to support its retail growth, starting with a listing in 400 Tesco stores.
The brand, which was founded in 2019, specialises in Tempeh, a natural 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 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 1 June, 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 is also a key focus for the brand, with it developing Tempeh-based burgers, falafels and veggie balls.
Better Nature’s Co-Founder and CEO, Christopher Kong, said: “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.”
