How Growthwell raised an eight-figure sum from Temasek
Innovation sometimes happens before profit
Making the case for chickpeas as meat replacements
Raising purely with IP rights, without profits or any validated proof-of-concept is no easy feat. We worked with the team to isolate their key difference, create a commercial case for the product although the business has yet to generate any revenue at the time of fundraising.
The development and commercialisation of this solution requires a significant runway and cash to burn. Playing up team experience in F&B as well as a logistic network that could see their raw material circulated into restaurants was the best bet to tell a compelling story.
Backed by Singapore’s sovereign fund
Armed with their new story, in an unprecedented seed round, the Growthwell team drew interest from a stable of investors including Singapore’s sovereign fund: Temasek. They raised an eight-figure sum to grow their joint-ventures in Israel as well as to scale production for their chick-pea protein isolate to commercialise within SouthEast Asia.
“We couldn’t have done it without HighSpark”.
We’re definitely coming back for our next round.
They have a knack for helping us find our ideal story”