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Better Nature

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Protein without compromise. All-natural meat alternatives that are as nutritious as they are delicious.

118%
 - 
Funded 23 Mar 2021
£1,350,000 target
£1,626,646 from 354 investors
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Business overview

Location London, United Kingdom
Social media
Website betternaturefoods.co
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11613856
Incorporation date 10 Oct 2018
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Investment summary

Type Equity
Valuation (pre-money) £5.5M
Equity offered 22.53%
Share price £3.98
Tax relief

EIS

Co investor Ascension Ventures

Ascension Ventures is an early-stage VC built by exited entrepreneurs to back the next generation of tech and impact founders

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Business highlights

  • 14-fold increase in sales within the last 12 months*
  • 200+ stocking points across the UK and launched with Mindful Chef
  • 50% average returning customer rate and a best-seller on Amazon
  • 4 patents filed, cementing us as a leading Food Tech business
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Key features

  • Secondary Market
  • Seedrs nominee min. £11.94 +
  • Pay by Bank payments not accepted
  • Idea
  • Investor Perks
  • Key Information
  • Team
  • Updates
  • Investors 354
  • Discussion
  • Documents

Idea

Introduction

Driven by our uncompromising love for people, the planet and animals, we make protein without compromise.

Using tempeh, a nutritional powerhouse from Indonesia that is packed with protein & fibre and great for the gut, we make naturally delicious meat alternatives.

By applying our proprietary technologies, our plant-based products are 100% free from artificial preservatives, flavourings and ultra-processed ingredients.

We have recently developed a new product range, including our BBQ Ribz and Roast Bites, that caters to health-conscious flexitarians looking for meat-free products that are just as nutritious as they are delicious.

As a rapidly-growing player in a category that grew by 29% in 2020 and is now valued at £530M in the UK alone, our ambition is to own the all-natural meat alternatives segment and become a dominant player in the industry.

That said, this isn't just about good business, it's about doing good. Join our Superbean Squad and invest without compromise!

Substantial accomplishments to date

Since launching in January 2020, we have:

- Increased sales 14-fold*

- Launched with Mindful Chef, allowing our products to reach more than 30,000 households each week

- Launched in over 200 retail locations, including TheVeganKind Supermarket and independents all across the UK

- Secured a listing with Bidfood, one of the UK’s largest foodservice distributors

- Become one of Amazon's best-selling meat-free brands, having shipped over 6,400 orders to 5,000+ unique households with 150+ 5-star reviews

- Had exciting discussions with the UK’s largest supermarkets to bring our new range into the mainstream

*Based on unaudited management accounts

With our relentless focus on developing the best all-natural meat alternatives, we have won 5 international Food Tech awards including the “Most Innovative Plant-Based Food Ingredient Award” at Fi Europe, Europe’s largest ingredients tradeshow.

We have filed 4 patents which give us near-exclusivity to develop products made using tempeh fermentation to disrupt not just the meat-free category but adjacent categories such as plant-based dairy.

We are the world’s first plastic neutral meat-alternatives brand and have created a Belonging Framework with a diversity specialist to ensure that everyone can bring their authentic selves to work. Sustainability, diversity and inclusion sit at the heart of how we operate.

We are continually inspired by our mission to make protein without compromise, and are certain that this is only the beginning!

Monetisation strategy

Better Nature sells via 3 core channels: D2C, Retail and Foodservice.

Over the next 2 years, we plan to build upon the foundations we have already set and to establish ourselves as a leader in the meat-free category. We want to be the go-to brand for all-natural products that can be consumed as a staple by the 25M+ flexitarians in the UK.

This starts by launching our new naturally delicious range in mainstream retailers by late-2021. Costing between £2.50 and £3.00, we want this range to be accessible to everyone.

By late-2022, we plan to launch an improved range of products with even better taste and texture, starting with our Better Burger. We have developed a prototype that will be ready for taste-testing this Summer.

With our brand firmly established, we aim to launch a clean-label protein powder in Q4 2022 to be used in a wide range of products from plant-based dairy to baked goods.

Use of proceeds

With the backing of Ascension Ventures, strategic investors and YOU, we will execute our roadmap by:

- Funding an impactful and engaging marketing campaign to launch our naturally delicious meat alternatives into the UK's best-loved supermarkets and foodservice outlets

- Investing in market-leading R&D to develop exciting new meat-free products to stay ahead of our competitors and to entrench ourselves as a category leader

- Doubling-down on international expansion and moving into key markets such as Germany

- Expanding into adjacent product categories such as plant-based dairy, with our proprietary all-natural protein powder - Betterein™

We will make sure that Better Nature is a widely-loved brand that’s top of mind and top of plate for many years to come.

We have given our time, our passion and our science, so that you can invest without compromise. We would love for you to join our Superbean Squad for the next chapter of our story!

Lots of tempeh love,

Our team of Superbeans xx

Investor Perks

Key Information

Share classes

The company currently has two classes of shares, Ordinary and Preference Shares. The lead investor, Ascension Ventures, will be issued preference shares for £350,000 of their investment and issued Ordinary shares for the remaining £150,000 of their investment. All other investors in this round, including Seedrs investors, will be receiving Ordinary shares.

The rights attached to the share classes are as follows:

Preference shares:

• 1x non-participating liquidation preference on liquidation and exit. This means, upon a liquidation event or an exit, preference shareholders will first receive their initial investment amount before the remaining proceeds are distributed between all shareholders pro-rata. Preference shareholders also have the right to convert their shares into Ordinary shares and have the same rights as other Ordinary shareholders.
• Full voting rights

Ordinary shares:

• Full voting rights
• No preference rights

Outstanding debt

The company has an outstanding bounce-back loan of £50,000. This is interest-free for 12 months, and 2.5% thereafter. This is to be repaid over 59 monthly installments starting in May 2021. None of the funds raised will be used to repay this loan.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £5,501,554

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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