- Investment sought:
- Equity offered:
Miso Tasty is a contemporary Japanese-inspired food brand with almost 6 years trading in the UK’s biggest supermarkets and over 6,000 stocking points. We have a range of 9 products that include Miso Soups, Miso Pastes, and Meal Kits that recreate popular Japanese meals; Ramen Noodles, Yaki Udon and Katsu Curry.
Our business is passionately led by Bonnie Chung; an award-winning entrepreneur, author and creative chef. She is supported by a strong team and advisors with many years of experience in FMCG.
Since our last fundraise raise in 2018, we have launched into the UK's top 2 supermarkets; Tesco and Sainsbury's. Adding this to our existing customers Waitrose and Ocado, our products are now available in retailers that collectively represent 49.5% of the UK retail market.
Our team of 7 are based in a studio in Hackney, East London, but we source our ingredients from around the world, with our key ingredients sourced authentically and directly from Japan.
Miso Tasty was Bonnie's brainchild almost 9 years ago. As a chef, she loved cooking Japanese food, especially with miso, but while enjoyment in Japanese food was growing, she knew that it was rarely recreated at home.
Miso Tasty’s mission is to provide super tasty and easy ways for people to discover the joy and ease of cooking Japanese food at home. All our products are designed to be quick to use, all-natural and authentic.
Our initial focus was purely on miso products which gave our brand a niche specialism, but as the market for Japanese food accelerated and our knowledge of the market deepened, our vision has widened too. Now Miso Tasty’s mission is to become the No.1 brand for Japanese home-cooking; appealing to a much broader audience and with even more ambition.
Our new products will continue to build our credentials as a trusted brand for Japanese cooking, such as easy marinades and table sauces that will bring Japanese flavours to your kitchen quickly, reliably and simply.
Substantial accomplishments to date
• We have a fantastic track record of winning UK supermarket listings. Within 6 years of trading, we are in Waitrose, Tesco, Sainsbury’s, Whole Foods and Ocado.
• Since launch, we've had major PR coverage with features in The Telegraph, The Independent, The Sunday Times, and Delicious magazine. Our products have been lauded for their taste and quality with multiple Great Taste Awards. Our brand awareness boomed after Jamie Oliver endorsed our products on his TV show and in his recipes in “5 Ingredients” his No.1 bestselling cookbook.
• Last year, on National Ramen Day we launched a mini video series that taught how to cook ramen like a pro at home. The videos went viral, featuring on the Daily Mail. One of the biggest english language newspaper websites in the world.
• Miso Tasty’s cookbook was named in The Independent’s Top 10 Cookbooks 2016 and won the Japanese Award at the Gourmand World Cookbook Awards. Available multiple countries. Bonnie is currently penning her second cookbook (Pavillion, 2021).
• We've launched a number of successful brand partnerships with restaurants including Chozen's chain of noodle bars, and a collaboration menu with Masterchef Winner Tim Anderson's restaurant, NanBan. We will soon be launching our Miso Tasty Katsu Curry dish with VQ's chain of 6 London restuarants.
• Bonnie continues to be the driving force behind the brand. She won The Grocer’s Top New Talent (2015) and Entrepreneur of the Year (Finalist, 2016) and in 2017, she was listed in Accenture's “Top 35 Women Under 35”.
We plan to continue generating revenue through supplying our major retail customers Tesco, Sainsbury’s, Waitrose, and Ocado. We also sell our products directly on our website.
Last year, we began selling to food service channels via our brand partnerships. So far, we have worked with 2 restaurant groups on this basis, and plan to extend this to further outlets by offering a wider range of our products in formats suitable for restaurants and cafes.
Our manufacturing is outsourced to a network of selected partners who make our products at competitive prices. As volumes grow to meet demand, we anticipate economies of scale to allow us to improve our overall margins.
Source: unaudited management accounts
Use of proceeds
To fund our next stage of growth, we are seeking investment of £350,000. However, to execute all the activities in our plan, we will seek to raise up to £700,000 (200% of our Seedrs target).
The funds will support the working capital and execution of 3 key initiatives to drive sustainable growth in our business:
1. A new consumer and trade marketing activation plan to drive Miso Tasty’s brand awareness. This is to accelerate the brand awareness of Miso Tasty in and outside of our stores.
2. Launch 2 new innovative product ranges. Building on our sales and customer base for cooking ingredients and products, we are executing a product strategy that delivers a new range of marinades and sauces that appeal to our customers looking for authentic shortcuts to Japanese cooking.
3. Grow & retain our fantastic team. In order to support the growth of our business, we need to hire additional resource in Sales, Marketing & Product Development.
For further detail, please request our business plan.
Please note that the company has issued a different class of shares, B shares, to a founder of the business with a subscription price of £461,200 in total. The B Shares have a preference equal to the £461,200 initial subscription price, which will be paid out in preference to the return of any proceeds to ordinary shareholders on exit, winding up or liquidation. The B Shareholder also has a right to require the company to repurchase the B Shares in the 5 year period starting in May 2022. The B Shares do not otherwise participate in the equity, they operate like a shareholder loan that is subordinate to creditors of the company.