Based on Climate Change Issues, Foodurama Develops Alternative Protein Products

Foodurama is a startup that focuses on developing alternative protein product variants, shaped cultivated meat (cell-based meat) and plant-based meat. The starting point is quite interesting, namely from anxiety founder on the issue of climate change caused by the F&B industry.

Menurut date, F&B business contributes to emission levels greenhouse gas is quite high, around 26% of total global emissions. This figure is even higher than the transportation industry. It cannot be denied that the impact of climate change is increasingly significantly affecting the nature around us.

Foodurama was founded by three founder, namely Zulfikar Rifan, Dio Andrian, and Punja Unggara. They are individuals who have an accumulated educational background in the field biotech, engineering, business, and pharmacy. Previously, he also had experience working in the F&B sector. tech-startup,hospitality, and pharmacy.

There are strong reasons why Foodurama believes that its product approach is more environmentally friendly and can contribute to reducing the issue of climate change. Zulfikar said, from a land use perspective, for example, plant-based meat resulting efficiency plant-based meat 47-99% smaller in comparison conventional meat. Not only that, emissions greenhouse gas for plant-based meat 30-90% smaller than conventional.

It is well known that this type of product is still not very popular in the local market. However, para founder Foodurama is optimistic that its potential will continue to grow amidst increasingly real public awareness of climate change.

Citing research Coherent Market Insights, market size plant-based meat It will reach $5,06 billion in 2022 and is projected to grow at a CAGR of 19,3% until 2023, resulting in a market capitalization of $20,76 billion.

In Indonesia itself, there have previously been a number of startups that focused on serving similar alternative protein foods. Two of them have received support from venture capitalists Green Rebels and Off Foods.

Foodurama product variants

Currently the products that have started to be sold are categories plant-based meat. Foodurama already has 4 product variants including alternative products beef patty, rendang, lamb patty, and smack. This food is made from processed soybeans, onions, mushrooms, thyme, parsley, combined with selected spices. Meanwhile for categories cultivated meat will be launched soon.

“Our focus as an alternative protein company is divided into two, namely cultivated meat and plant based meat. However, due to development reasons and regulations that must be met, for initial SKUs we now only cover categories plant-based meat. Our focus is to provide an experience that is close to conventional meat", so that we can reach a wider market and unite various communities who care about climate change and want to take action through daily food consumption patterns," said Foodurama Co-Founder & CEO Zulfikar Rifan.

In this initial phase, the product plant-based meat commercialized to the B2B (horeka) segment. For area coverage, Foodurama is medium pilot launch in several locations in Bandung City and is currently initiating collaboration with several food service and hotel managers at home and abroad. Domestically, his party admitted that they were conducting exploration in the Bali and Jakarta areas. For overseas, there are in the Netherlands, UAE, China, Singapore and Malaysia.

Meanwhile, they are also targeting that in the first semester of 2024 they will be able to target B2C via modern trade. Zulfikar also said that the majority of the target demographic for Foodurama products currently is middle and middle-upper class who has a concentration on the environment.

"We are the first company in Indonesia to initiate development cultivated meat. In the near future, we will collaborate with one of the universities to build the first laboratory in Indonesia that focuses on development cultivated meat," added Zulfikar.

He continued, “For categories cultivated meat, we hope that by 2024 we can complete it prototype and start the initiation to get regulatory approval in the destination country that has permitted the commercialization of the product. We are optimistic, with support from various stakeholders, the alternative protein industry will reach price parity with the conventional protein industry.”

Foodurama debuts with funding angel round and now it's in progress fundraising for the initial round.

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Disclosure: Kristin Siagian contributed to the process of preparing this article