Foodtech startup Hoow Foods raises S$3m pre-Series A funding

HOOW Foods, which specialises in formulating healthier versions of snacks and ingredients, has raised S$3 ilion in pre-Series A funding led by Singapore-based venture firm Farquhar VC.

The round was also joined by existing investor Trive Ventures and other private investors. The startup had raised an undisclosed sum from the Nanyang Realty family office last year.

Hoow Foods will use the fresh funding to spin off commercially viable products into individual subsidiaries and joint ventures, said chief executive and co-founder Ow Yau Png.

Founded in 2018, Hoow Foods is the maker of low-calorie ice cream brand Callery's. It also has an ongoing partnership with Singapore heritage brand, Killiney Kopitiam Group. In the past year, both companies have commercialised more than 10 consumer packaged goods under the Killiney brand.

The startup has also created an in-house platform, Re-Genesys, with a database on food ingredients and their physico-chemical properties.

"Hoow Foods and its upcoming functional ingredients could be a game changer, as it would allow decadent foods to be enjoyed by more people without the guilt, thanks to their ability to reduce or replace the unnecessary calories, fat and salt within these food items," said Jason Su, chief investment officer at Farquhar VC.

Christopher Quek, managing partner of Trive, added that Hoow Foods "will be entering an exciting growth phase, where our commercial networks would enable Hoow Foods to achieve enterprise sales for its ingredients and food products".