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HOMETASTE TECH

From home recipes to data-driven multi-brand online kitchen through tech - enabled channels.

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY
With the passion of sharing good food since 2017, Hometaste is on a mission to empower home recipes to multi-brand online kitchens:
  • Over the past 4 years, our annual revenue has increased by 15 times, our revenue in 2020 is RM2.2M and projected to reach RM 5M in 2021.
     
  • We deliver over 17,000 home recipe orders every month and has served over 500,000 pax in Klang Valley since 2017.
     
  • Over 1000 home recipes were brought online,  where home recipe creators have a chance to share the food their families have enjoyed for generations.
     
  • We are backed by Andy Sitt, Founder of Inmagine Group and 1337 Ventures, a Malaysia's premier early stage Venture Capital firm.
     
  • For expansion and scaling of existing brands, we are aiming to launch 10 multi-brand kitchens by June 2022.
     
  • We are aiming to become South East Asia's top multi-brand online kitchen, connecting foodies with good food while preserving the home recipes.

OPPORTUNITY

Digitalisation of the F&B industry is a huge opportunity, it is expected to be restructured by the technology in the next 5 to 10 years.

  1. For example, Zalora, an online-born brand has challanged the fashion retail industry. We believe that online F&B brands will stand out in the F&B industry especially with the utilisation of data, we can understand consumers better. 
     
  2. The traditional way of running businesses by renting shops in high concentration and traffic is no longer a must as mostly are accessible online now, which is also achievable for the F&B industry with cloud kitchen model where maximum utilisation of spaceis achieved.
     
  3. Many SaaS products were created to help retailers simplify their e-commerce journey, creating multi-billion dollar SaaS company whereby the digitalisation of F&B industry will have similar opportunities.
SOLUTION

1. Online F&B Brands

Hometaste incubates multi-brand online kitchen with home recipes. By leveraging tech-enabled channels such as our system, we are able to increase the success possibility of every brand created. Customization of orders through our system provides better customer experience while we lower down the new brand development cost and provide bigger coverage area. 

2. Cloud Kitchen

We have a plan to provide cloud kitchen to other parties, but not at the moment, because we believe cloud kitchen is not about only renting out a space. A cloud kitchen should be a smart kitchen, minimizing cost and increase productivity through technology. We plan to develop AI crew management and stock check systems, which can lower down management cost of a kitchen.

MARKET SIZE

Food delivery in SEA is estimated to grow by 300% from 6B to 23 Billion within 5 years whereby Malaysia alone is projected to reach up to US410M by 2024.

We are currently building a global food delivery opportunities, starting from Malaysia, and across South East Asia soon. 
Entrepreneurs around the world are raising up to hundreds of million to catch the opportunity.

BUSINESS MODEL 

Our projected revenue is set to be US$ 75M by 2026, acheiving US$ 15 M nett profit - 20% of our projected revenue.

Over the years, our traction has proven to achieve 150% compound annual growth, from RM144,000 to RM2,210,000 within 4 years.

By 2023, our projected annual revenue is RM24,000,000 with compound annual growth of 130% following our planned expansion roadmap. 

EXPANSION ROADMAP

Currently we have 2 cloud kitchens operating and we are aiming to launch more cloud kitchens this year to increase our service coverage area. We are aiming to reach 71 cloud kitchens in year 2023 across South East Asia. 

Expansion to overseas is targetted to be achieve by 2022, starting with launching of cloud kitchen out of Malaysia. 

2021 - Launch 3 cloud kitchens in Malaysia; Launch 5 new online F&B brands
2022 - Launch 1 oversea cloud kitchen; Launch 15 cloud kitchens in Malaysia
2023 - Launch 10 oversea cloud kitchens; Launch 40 cloud kitchens in Malaysia

TRACTION
  • Orders served monthly: over 17,000 orders
  • Average purchase per customer: 21 times
  • Basket size: RM26
  • Customer acquisition cost: RM24
  • Life time value: RM551
  • LTV:CAC 23:1
COMPETITORS

Building mutiple brands can increase the varieties of cuisine served on different occassions, increasing the opportunity for customers to buy from once a day to multiple times a day.

With our own personal domain traffic, we are not 100% dependant on third-party delivery platforms as sales channels while we leverage on third-party delivery platform for brand exposure.

COMPETITIVE ADVANTAGES

There are 4 key advantages supporting us in continuing to conquering the market

1. Traffic advantge with Hometaste.my

Starting off as a platform empowering home recipes in 2017, we can carry new brands with the existing traffic. 
With the few high ranking SEO keywords, we are listed in the top few results upon searching these keywords and we deliver over 14,000 orders every month. 

2. We are experienced in incubating multi-brand online kitchens 

We are currently incubating 4 brands currently, operating in 2 clour kitchens. Here are two examples: 

  • Lau Kitchen is aiming to become Malaysia's premium subscription meal brand. After 2 years of incubation, it has achieve RM 230,000 revenue per month.

  • Dip Dip is an online-born brand, aiming to be Malaysia's top delivery brand. From Jan 2021 to March 2021, DipDip has recorded 3x growth on third party delivery platform serving over 2000 pax monthly.

3. A delivery fleet management system with cost advantage 

We are able to help home recipe creators around us to increase their delivery areas by 200% while we decrease their delivery costs by 40%.

This is a win-win situation for us too, by helping them, we have also succeeded in decreasing 20% of our delivery fees. Our current delivery fees are controlled within RM4.50 to deliver within Klang Valley, while newcomers to the market easily surplus RM10 to deliver one order.

4. Onboarded and well managed third-party delivery platform 

We onboard to third-party platforms to leverage with on-demand big players' traffic in order to scale fast and increase our brands' exposures. We plan to grow 25 times on third party platform to achieve RM1 Million.

We have a professional management team for our online stores across different third-party platforms, covering different aspects which are crucial to maintain a well-performed online stores.

REVIEWS

Here are what our customers speak about us. 

TEAM

Managing food delivery and multi-brand online kitchens is not as easy as it seems, professional teammates, such as IT developers, digital marketing experts, logistics experts and many many more is a must. 

As this is a new industry, talents in the market are very very limited, but today, Hometaste is one of the few teams in the Southeast Asia market with a full-stack in-house team for the online kitchen business with over 4 years experience. 

Aston Chua - CEO 

  • Prior to Hometaste, Aston has successfully grown a network of distributors from 0 to 1000 acorss Malaysia
  • One of the pioneers in food delivery leading a full stack team with over 25 management staff

Win Soh - COO

  • Mechanical Enginner graduate who self learnt 2 coding languages to build the first version of Hometaste website
  • Securing 42% price advantage in delivery cost for food delivery brands with RM78,000 nett profit

HS Khoo - CTO

  • Masters degree holder who majored in Artificial Intelligence for Bachelor degree
  • Profecient in 5 computing languages 

TK Yong - CMO

  • Grew Hometaste's annual revenue from RM 500k to RM 2.2M 
  • Marketing budget was controlled within 5% while continuos growth was achieved 
INVESTORS

We are backed by:

1. Andy Sitt, Founder of Inmagine Group, one of Malaysia's most successful technology companies, with approximately 350 employees in 40 offices around the world.

2. 1337 Ventures, Malaysia's premier venture capital firm focuses on pre-seed and seed-stage startups.

FINANCIAL

We are raising RM1.6 Million to expand our business. We are expecting to shorten the period from  6 years to 2 years, achieving our projected plans to continue make an impact in the industry. 

INVESTMENT OFFER

For early investors, incentives are offered in terms of bonus shares up to 25%. 

Do note that the incentive is limited by fixed amount of bonus shares,  exclusively for investors who invested within MYR 500k to MYR 1 Million of the equity crowdfunding or by 25th July 2021 (whichever comes first).

PRESS

2017 -  Vulcan Post - Meet the 3 teams that just impressed 1337 Ventures enough to win RM108k in funding

https://vulcanpost.com/610236/1337-ventures-malaysia-startup-accelerator-2017/

2017 - 东方日报 Oriental Daily - 家味解乡愁

https://www.orientaldaily.com.my/news/rwf/2017/02/28/186339

2018 Astro AEC-企业大联盟 Business Talk

https://www.facebook.com/xiananwee/posts/10212156318799334

2021- 星洲日报Sin Chew - 住在饭搭上新常态热潮- 三菜一汤送上门

https://www.sinchew.com.my/content/content_2492898.html

2021- Ai FM - 职上云霄 -伙食外送平台创办人 Win/ Aunty Lau

https://fb.watch/6qG2TM6QcD/

Together we will grow the company more in coming years and be one of the biggest multi-brand online kitchens across South East Asia.

Join us for a 45 minutes (limited to 10 investors per session) to know more about Hometaste Tech’s Equity Crowdfunding.

Register for an online session where our CEO will be sharing with you personally about Hometaste Tech, you can be a shareholder today.

Sign up here!
https://forms.gle/8NSkudFiV1LPKUZAA

 


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08
JUL

Milestone Updates before We live!

17 days ago by Chua Yee Shen
draft

Update 14th July 2021 - We have achieved RM350,000 in pledges now!
.
Update 8th July 2021 - We have achieved our first RM100,000 pledges.

 



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