Feed. believes that it is a “smart food” company with a difference.
A niche but growing area of the food sector can be described as a nutritionally complete powdered food. Companies like Soilent in the US and Huel in Europe deliver all the protein, nutrients and carbs you need, in powdered form. The concept of France-based start-up Feed. is similar – but there is one key difference, founder and CEO Anthony Bourbon believes.
“Feed. is a new form of nutrition that offers you freedom. Healthy, convenient, and economical… Feed. will simplify your life. It is vegan, gluten-free, lactose-free, GMO-free and made in France. It exists in the form of bars, drinks or shaker preparation,” he explained.
But here is the kicker: Feed. "does not forget" that eating is an experience that should be enjoyed.
“There is something for all tastes: salty (beverages made from cèpes, Provençal tomatoes, garden vegetables ) or sweetened (drink or red fruit bar, coco-choco bar, banana-choco bar) Feed. can replace any meal. It is neither a diet product nor a protein product for athletes. The goal is not to completely replace the traditional diet. On the contrary, Feed. provides an ideal alternative to those who do not have the time, the possibility, or the desire to cook, in a punctual or more regular way.”
Bourbon explained that Feed. meets four primary consumer need-states. “Consumers need to eat a delicious, balanced, convenient and economical meal. Ninety percent of the time, during the lunch break, consumers will turn to the traditional sandwich [and] soda formula at €8 and €15 if you go to trendy brands. Today [with Feed.] you can have a full meal starting from €2.50 ready in 30 seconds.
“There is a real craze around Feed.”
Good for you, good for the environment
Feed. claims that its shakes and bars bring nutritiously balanced full meals to the market.
Feed launched in January. By 30 August this year, it could boast over 100,000 regular consumers.
Bourbon explained: “Chefs, agri-food engineers and nutritionists develop Feed.’s recipes. They bring you everything you need in the ideal proportions. All our meals contain quality natural ingredients such as fruits, vegetables, oatmeal, buckwheat seeds [and] flax flour.”
The company’s products are also “respect the ecosystem” and “strict specifications” to ensure that they are good for the planet when compared to conventional consumption. “All meals are vegan and made in France. In addition, the bottles are made of recycled PET and our bags contain the equivalent of 20 meals in a single package,” the chief executive noted.
Feed. has just completed a fundraising round that will provide the company with an additional €3m in cash for expansion. The group won the backing of investors Otium, Kima Ventures and Senseii Ventures. This will enable the company to extend the availability of its complete meals solution in Europe, Bourbon said.
“This [fundraising round] was very fast because of the excellent metrics we post, only a few months after our commercialisation in January 2017,” Bourbon suggested.
Since the start-up launched at the beginning of this year, it has established distribution throughout Europe via its e-shop. At the retail level, it has secured listings at 200 points of sale in France via Franprix, as well as via the UberEaste app.
“Currently, we double our sales each month. We are the only credible smart food in France and deliver our offer throughout Europe,” Bourbon revealed.
The additional cash will allow Feed. to step up its pace of expansion. The company will use the cash to employ 20 additional recruits as well “intensifying” its R&D initiatives. The group also plans to “quickly” develop its activities in France and overseas. The company intends to launch in the US in 2019, where it will come up against the global market leader Soylent.
“From 2019, we will [launch] in the United States to go to the land of Soylent, the world leader,” Bourbon said.
He believes that the taste and experience offered by Feed. means it delivers a superior product to its competition, which is more established in the US.
“In France, the way is free. In Europe, there are some brands that have ‘copied’ the recipes [that offer] no pleasure from the American Soylent, with synthetic ingredients, stuffed with allergens and of a very poor quality.
“At Feed., our positioning is clear. We offer practical meals, but do not forget the pleasure and the nutritional quality. Moreover, we are the only ones offering a wide variety of salty and sweet recipes, as well as [multiple] formats - bars, bottles, pouches and shaker.”