The Opportunity

Better Nature Limited (“the Company” or “BN”), launched in 2020, is a FoodTech business seeking to build Europe’s leading brand for tempeh, a protein-rich fermented soybean product widely viewed as a flavourful replacement or supplement for meat in the diets of vegetarians, vegans and meat-eaters alike. An Indonesian staple (see Appendix 1 – What is tempeh), tempeh has achieved rapid adoption in the US and this is now being seen in the UK and Europe.

BN presents as the world’s first FoodTech company focused solely on tempeh fermentation. Its technology, underpinned by a portfolio of four WIPO filed patents, is enabling the development of a wider range of tempeh-derived consumer products, as well as ingredients for the B2B market. A summary timeline is set out at Appendix 2.

BN is achieving increasing listings with major retailers in the UK and Germany by positioning its tempeh range as an everyday, easily prepared and affordable food for a mainstream audience. The Company’s products are now listed in more than 720 Tesco stores, 320 Asda stores and almost 1,000 Lidl stores in addition to online platforms Amazon and Ocado and numerous health-food outlets. In Germany it is listed by over 1,500 stores in three major grocery chains: REWE, Globus and Tegut.

The Company also supplies meal kit retailer Mindful Chef and large UK food wholesaler and distributor Bidfood, amongst others.

Growthdeck members initially invested in BN in July 2023 joining funders from previous rounds including HNWs and institutions specialising in FoodTech and early-stage investments (Born To Be Free Capital, Good Food Ventures and Ascension Ventures).

The Board is seeking to raise £1.5 in Series A funding which is projected to take the Company to profitability in 2026. This raise comprises an initial Advance Subscription Agreement (ASA) of up to £1.2m with the remaining funds anticipated to come from new VC investors. Over £1m has already been taken up by new and existing investors and the balance is now available to Growthdeck members.