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WTH Foods, the first native plant-based startup in the Philippines, has received funding from Henry Soesanto of Monde Nissin, the parent company of the traditional meatless brand Quorn. The seed round joined by Big Idea Ventures will increase research and development efforts to develop more vegetarian Filipino-style dishes and meat substitutes. 

WTH Foods has completed a $1.2 million seed round of funding, with the participation of Henry Soesanto, CEO of Quorn's parent company Monde Nissin, and food technology accelerator and investor Big Idea Ventures (BIV). The Philippines-based startup is the country's first local food technology company and will use the funds to double its research and development to expand its range of plant-based meat and vegetarian dishes. 

WTH will soon open a new research and development base, where it plans to improve the taste and texture of its existing series, including minced mung beans, jackfruit pulled pork and corned beef with plants. It also plans to expand its product line, launch new vegetarian alternatives that cater to Filipino cuisine, and transform some of the country's most popular dishes into plant-based dishes. 

"At WTH Foods, we are developing plant-based alternatives for meat lovers that have the same texture and taste as their favorite dishes, but with added health and sustainability benefits," co-founder and CEO Stephen Co. shared. "This funding will help us accelerate the development of these products."

As the Philippines has a large number of overseas foreign workers, accounting for about 11% of the total population, WTH said it plans to bring its products to destinations such as Singapore and other parts of Southeast Asia. 

Co stated that the new funding will enable the company "to enter more markets in Southeast Asia and around the world, so that people can enjoy popular dishes without guilt."

Reading: Stephen Co of WTH Foods stated that in order to enter the mass market, "taste comes first"-Interview

With its unique approach to cater to the Philippine market, WTH is currently developing a new product line called "Umami". The product line is planned to be launched in 2022 and includes 100% plant-based processed meats, such as sausages and luncheon meat, which are the most popular in Asia. 

Both pork processed meat products are among the most consumed animal protein types in the Philippines. For example, luncheon meat, better known as the Hormel brand Spam, is eaten by many Filipinos almost every day, and it is estimated that this product is sold in the country at approximately 2.7 million pounds each year.

Recent statistics predict that by 2021, pork products will generally surpass chicken meat and become the most consumed meat in the Philippines. Other food technology companies trying to fill the gap in vegan processed meat for Asian consumers include Hong Kong-based OmniFoods, whose OmniLuncheon has taken the world by storm since it was first launched last year.

For BIV, the startup's tailor-made products for the complex Asian market will give it an advantage over its competitors in attracting more plant-curious and flexible consumers in the region. 

"The demand for healthier and sustainable meat substitutes in Southeast Asia is growing. We believe that the products provided by WTH Foods are very attractive to Asian consumers, especially those living in the Philippines, because these products will be healthy and plant-based. Alternatives are combined with convenient ready-to-eat food,” commented Christian Cadeo, managing partner of BIV. "The opportunities for innovation in this field are huge."

All images are provided by WTH Foods.

Sally Ho is the writer and chief reporter at Green Queen. She is passionate about the environment, social issues and health, and has been following the latest climate stories in Hong Kong and other regions. As a long-term vegetarian, she also hopes to promote healthy and plant-based lifestyle choices in Asia. Sally has a background in politics and international relations while studying at the London School of Economics.

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