Investment in UMAMI UNITED, a developer of the plant-based egg “UMAMI EGG”
Genesia Ventures, Inc. has invested in UMAMI UNITED’s Pre-series A round from Genesia Venture Fund No. 3 (GV-3). UMAMI UNITED is a company that develops plant-based egg products, including the UMAMI EGG.
About UMAMI UNITED
UMAMI UNITED develops and sells plant-based eggs (UMAMI EGG) with the mission of “creating the future together around ONE TABLE”.
UMAMI EGG is a versatile product that not only captures the taste and texture of eggs, but also highlights their functional properties, making it suitable for use in a wide range of prepared foods and confectionary goods. The main ingredients used are konjac flour and bittern salt, both of which are uniquely Japanese ingredients. The product’s egg-like texture is achieved by using the elasticity of konjac and the crackling texture of tofu. Additionally, UMAMI is extracted from wood ear mushroom using enzymes, like koji mold, and employs fermentation technology to enhance the richness of the egg.
The company’s goal is to develop delicious plant-based foods and incorporate them into our daily diet. People will choose plant-based foods because they are delicious; because they are delicious, people come together to eat at ONE TABLE, and because it tastes good, people will continue to eat it. For a sustainable future, the company aims to highlight the ancient Japanese wisdom, technology, and umami, and deliver delicious plant-based foods to Japan and the world.
Where UMAMI UNITED is now and where it will go from here
It’s estimated that each person in Japan consumes around 337 eggs annually, making Japan the world’s second-largest consumer of eggs per capita. Around half of the eggs are sold in supermarkets (BtoC), while the remaining half are distributed to restaurant chains and food manufacturers (BtoB).
Since the bird flu pandemic towards the end of last year, the cost of eggs had risen from 100 yen per kilogram to 300 yen per kilogram. Aside from the common considerations of egg allergy and veganism, concerns about price hikes and unstable supply have drawn attention to egg substitutes and plant-based eggs.
At present, multiple companies in Japan are offering alternative egg products. However, most of these are marketed as processed foods in the BtoC sector. In contrast, UMAMI UNITED sells its products as raw materials with minimal processing to the BtoB sector. The outbreak of bird flu had prompted a significant increase on development projects for numerous food manufacturers, and several products making use of UMAMI UNITED’s raw materials are scheduled to hit supermarkets and convenience stores in the fall/winter of 2023.
Due to the increasing inquiries from the confectionery and baking industry about using egg substitutes for their functional properties, as well as the growing demand for egg white alternatives, UMAMI UNITED will prioritize researching and developing egg white substitutes moving forward. In addition, it will accelerate business development in the growing markets of the United States and Europe, along with its research and development efforts.
About the Investment
Masafumi Kawai, Partner/Chief Sustainability Officer, Genesia Ventures, Inc.
The production and consumption of eggs has become a major concern in recent years, not only because of soaring prices due to severe supply shortages, but also because of its impact on health, with 10% of Japanese children being allergic to eggs. In addition, there are various issues to consider, such as the environmental impact of egg production, the animal welfare aspects of egg rearing methods, and the changing preferences of vegans and other consumers.
UMAMI UNITED is dedicated to developing a plant-based egg substitute that pursues the “deliciousness” that is uniquely Japanese, by utilizing fermentation technology that has historically been an integral part of Japan’s food culture, and with the goal of creating a world where everyone can have a meal together at one table. We are excited to see the continued growth and success of this Japanese food tech startup on a global scale.
Company Profile
Company Name: UMAMI UNITED PTE.LTD. / UMAMI UNITED JAPAN Co.
WEB: http://jp.umamiunited.com/
Date of Establishment: December 2021
Location: 1 RAFFLES PLACE, #20-01, ONE RAFFLES PLACE, SINGAPORE 048616
CEO: Hiroto Yamazaki
