As It Readies for a Series A, Green Rebel Expands In Asia, Including 364 Starbucks In Malaysia
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Indonesian food-tech startup Green Rebel is broadening its presence across the Asia-Pacific, establishing partnerships with top quick service restaurants including Starbucks Malaysia and Nando’s Singapore, as it gears up for a series A funding round by the end of 2023.
Green Rebel, which launched in Indonesia in September 2020, is a plant-based food startup focused on providing consumers with healthier food choices in the form of whole-cut meat substitutes. This initiative aligns with the rising trend of flexitarianism across the APAC region.
‘A global company’
The company’s expansion in the Asia-Pacific was financed by a $10 million oversubscribed pre-A funding round in 2022. Investors include Unovis, Teja Ventures, Better Bite Ventures, AgFunder, CJ Group, and Singaporean entrepreneur Kane Lim.
“From the very beginning, we have been building Green Rebel to be a global company,” Green Rebel CEO and co-founder Helga Angelina Tjahjadi said in a statement. “We believe in taking a strategic yet personal approach to our expansion plan, and choose to work with B2B and B2C partners whose vision and business approach are in alignment with ours.”
Green Rebel, part of Indonesia’s largest plant-based food chain, Burgreens Group, is currently available in more than 1,800 distribution points across Indonesia, Singapore, Malaysia, and South Korea.
This month, the company is partnering with Starbucks Malaysia to launch a special meatless menu featuring Green Rebel’s Beefless Rendang and Chick’n Fillet. The Philly Steak Rendang Sandwich and Black Pepper Chic-ken Sandwich are available in 364 Starbucks outlets nationwide.
“In order to maximize the success of plant-based protein adoption in new markets, we always emphasize the importance of flavor localization,” said Max Mandias, Green Rebel co-founder and Chief Innovation Officer. “Our partnership with Starbucks Malaysia is exciting because it is a celebration of the culinary diversity of the Asian region, where beloved local flavors take center stage.”
In Singapore, Green Rebel’s top products such as Beefless Rendang and Whole-Cut Steak are available at FairPrice Finest supermarkets and online store Redmart. The items are also featured on popular chicken chain Nando’s Singapore’s special menu, ‘The Great Pretender’. Green Rebel became the first plant-based brand that Nando’s Singapore has collaborated with since it started operations in 2010.
Green Rebel also recently launched in South Korea, a market known for its high meat consumption, particularly beef. But there’s an increased interest in plant-based alternatives across the country.
Tjahjadi says awareness of mindful consumption and an appetite for alternative, plant-based food options have emerged at “the center of food trends” in South Korea in recent years.
“Our market research has shown that the plant-based [food and beverage] market in South Korea is forecast to have an 11.25 percent CAGR from 2023 to 2030,” Tjahjadi told Green Queen via email.
“Interest in sustainable consumption, alternative protein, and plant-based food options have emerged as major food trends among younger consumers here, who are driven by health reasons and environmental concerns.”
The company is planning to launch a Series A funding round later this year, targeting $8 to $10 million to further its growth. “This will be used for global expansion as well as pave our path to profitability, so we are looking for strategic investors who can help us penetrate deeper in Asia, as well as expand markets geographically to Europe and the U.S.,” says Tjahjadi.