Case Study

How Growthwell raised an eight-figure sum from Temasek

Challenges

Innovation sometimes happens before profit

Bringing a never-before-seen meat replacement product into the market and seeking to incept the minds of investors is much easier said than done. On the crux of a breakthrough with Israel company ChickP, the Growthwell team were close to bringing to market the first non-allergenic, cruelty-free alternative. They just needed help to bring that story to life.
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Approach

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.

 

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Results

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. 

Seed Round

$11M

in funding

“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”

Justin Chou

CEO, Growthwell, Fundraised $11M from Temasek

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