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KRAVVE.CO

Empowering moms and pops to make a living from home selling food & groceries

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY
  • Kravve is aiming to be Etsy for food & groceries - a Saas Enabled Marketplace that helps moms and pops to sell their handmade food & groceries product online at scale. (Etsy is a USD 18 billion company in US)
     
  • Kravve's mission is to empower locals to make a living from their home selling food & groceries & to encourage locals to buy from locals. 
     
  • Founded only two years ago, today we are the largest moms and pops food & groceries marketpace in Malaysia with over 1000 sellers across Malaysia. 
     
  • We have two products :

    1) Sales Automation Saas Tool 
    --> Kravve Sales Automation Saas tools automate the selling process end-to-end, making a 16 steps process into 2 steps, so that moms and pops can start making an income from their home kitchen even without business know-how.  

    2) Marketplace
    --> Kravve Marketplace provide is an avenue for customers to discover moms and pops food products, generating our moms and pops sellers extra income.
     
  • Proven track record with product market fit - generated USD 500,000 in revenue with 17,000 paying customers in the past 18 months.
     
  • We are backed by SOSV, a San-Francisco based USD 740 million fund & #1 most active venture capital investor in the world 2Q20. We were also invested by 1337 Ventures, a leading VC in Malaysia. 
     
  • - We were also recognised as a winner in Selangor Accelerator Program, and were the first-ever Malaysia company that was accepted into the Mobile-Only Accelerator (MOX) 
     
  • - Our growth prospect is to be the leading food tech company focusing on empowering micro-sellers across Southeast Asia.

    Join us on a journey to empower 10,000 more micro-sellers / individuals / small businesses to make a living from their home selling food & groceries. 

 

PROBLEM
  • With many people losing their jobs, businesses closing down, and unemployment rates skyrocketing, having a real avenue to make a living from making food & groceries from home has become especially relevant in these challenging Covid times.
  • As "support local products campaign" like campaign #kitajagakita is building up, demand from customers for local products has reached an unprecedented height too. 

However, there are two problems:



1) There isn't a unified platform that gathers all micro-sellers / small food businesses, where customers can discover local products.

2) Mom and pops sellers are often not business not tech-savvy. Selling food & groceries on social media like Facebook and Instagram is a tedious 16-steps process, seller spent 75% of their time managing business operation task. 

 

SOLUTIONS / PRODUCTS

1. ONE-STOP PLATFORM (MARKETPLACE)

We created a one-stop marketplace that gathers all micro-sellers / homechef across the country, allowing customers to discover everything that is available in a supermarket from bread, dried noodles, jams, condiments, frozen food to vegetables and even fresh meat. 

With this, we leveled the playing field between small sellers and supermarkets, providing our local sellers an equal opportunity to get discovered. 

We want to be the "Swimmy" - in which a school of small fish team up, swimming in the pattern of a larger fish with Swimmy as the eye, to protect them from giant fish that would eat them.

 

2. A SAAS TOOL (like Shopify but for food)

We help automate the selling process end-to-end, making 16 steps process into just 2 steps, so that moms and pops can start making an income from their home kitchen even without specific business know-how.

Kravve provides micro-sellers with a "Personal Online Shop" with full e-commerce capability that is worth RM2000 - RM10,000 in market price at 97% lower cost.

With this, it helps them to offload their entire business operations so they can focus on what they do best - making products.



 

3. B2B Corporate Procurement

We help our sellers increase their sales by bridging the corporate procurement gap with our platform. Through Kravve, corporate can procure from thousands of local sellers across the country. 

Our clients range from small-medium enterprise, GLC, conglomerate, to fortune 500 multinational companies. 

4. Partnership with large corporation/ government bodies

We help drive more sales and exposure to micro-sellers on Kravve by partnering with organisation with a large user base.

Some of our past / existing partners are - 


TRACTION

In the last 18 months:

1,000 sellers across Malaysia

50,000 users (10x increase from 2019)

17,000 customers (8x increase from 2019)

54829 products sold (7x increase from 2019)

Total sales USD 500,000 (MYR 2,000,000 / SGD 650,000)

Growth 
2019 - USD 150,000
2020 - USD 350,000 (as of July 2020)

BUSINESS MODEL

Marketplace - We charge a 15% commission for every sale made.

Saas Tools - We will charge a subscription fee ranging from USD 9 to USD 29 per month.

B2B Procurement - 10-40% product mark up


Impact

Since MCO, we have helped many of sellers who have lost their jobs andrestaurants to make a living selling food they make from home online.

-An example was when we helped a Penang based western seafood restaurant to sustain their business by going online, through Kravve tools resulting in sales made of USD 25,000+ (MYR 100,000+ )in just 45 days.


- Another example was we helped a Damansara-based hawker to brace through Covid impact by helping them to sell online, making them USD 17,000+ (MYR 68,000+) in 20 days.


- With Kravve's tool, we can empower any individual who lost their job during Covid or restaurants who wish to digitalize to go online to do it without any online-business-know-how. We provide a free personal webpage for their brand, logistics arrangement, to even guidelines on running a successful food business online. 


- Our tool became much more apparent and essential especially after Covid-19 hits Malaysia, giving our members the power to make an income from home. 

Why now? - Market Opportunity 
  • Global trend 
    >>> China 
    Historically, we know that China is always 5 - 10 years ahead of Southeast Asia in areas like cashless, mobile payment, e-commerce, and logistics. 

    They are already capitalising on the rise of moms and pops sellers by enabling them to go online, and it is believed that the trend will trickle down to Southeast Asia in the next 5 years. Kravve wants to the dominant player by then to capitalise on it. 

    >>> USA
    Etsy, a marketplace for moms and pops to sell their crafts launched a bakery section during the lockdown in the US. Their market cap rose from USD 7 billion to today's close to USD 18 billion. This shows market sentiment. 

    >>> Southeast Asia
    - Ecommerce adoption
    Covid-19 has accelerated e-commerce adoption by 5 years ahead of its initial schedule. 

    - Cultural shift
    Rising middle class = affluent consumers with higher spending power = more health & quality conscious = reject mass-manufactured products, embrace moms and pops products

    - Spending shift
    Traditional groceries has lost almost 50% of their market share to moms and pops shops in the past 30 years. 

  • Malaysia & Singapore
    > 100,000 Malaysian lost their jobs in 2020 due to the pandemic
    > 1 in 4 Singaporean lost their jobs in 2020 due to the pandemic

    Selling food from home to make a living becomes a serious alternative. 

Growth opportunities with your investment
  • Muslim segment
    With 20 million population in Malaysia are Muslims (61% of the population), we are barely scratching the surface for this market. 

  • The B40 segment
    Especially with the Covid-19 pandemic, the economic impact is huge on the B40 community. Kravve would open up a new opportunity for them to make a household income making food from home

  • International expansion - Singapore
    We are poised to become a regional player with the first step being Singapore. 

 
MARKET GAP & COMPETITION 

There is no significant competitor in both local and in Southeast Asia. 

The biggest competitor is still the offline groceries market where customers are more accustomed to buying. 

Our goal is to digitalised and provide the necessary tools for sellers to bring their business online. 

 

INVESTORS

We are backed by two VCs.

  1. 1337 Ventures, a leading VC in Malaysia. 

  2. SOSV, a San-Francisco based USD 740 million funds & #1 most active venture capital investor in the world 2020. 

 

TEAM

A team with 4 businesses under our belt

Teh Yong Lin - Cofounder & Chief Executive Officer

  • Two ventures prior to Kravve, one of them was awarded Malaysian Startup Of The Year in 2014.

  • Growth marketer in NEXT Academy, a 500-startup backed company

Jean Heah - Cofounder & Chief Operating Officer

  • Runs a profitable software education business prior to Kravve

  • Works as an architect and designer.

Nic Chong - Cofounder & Chief Technology Officer

  • Build banking solutions for some of the largest banks in Malaysia - RHB Bank & Hong Leong Bank, which today has over 4 million users collectively.

  • Founder of a digital marketing solution company that helps brands acquire users with proprietary software.


PRESS 

We are recognized by over 20 local & international media.

1. Technode Global - Founder’s Interview: Kravve

https://medium.com/@technodesg/founders-interview-kravve-b7f06cfd8af2

2. Digital News Asia - Kravve.Co on a mission to empower the B40 to make a living
https://www.digitalnewsasia.com/startups/kravveco-mission-empower-b40-make-living

3. The Edge Markets - E-Commerce - A marketplace for food entrepreneurs
https://www.theedgemarkets.com/article/ecommerce-marketplace-food-entrepreneurs

4. New Straits Times - Click for home kitchen creations
https://www.nst.com.my/lifestyle/bots/2019/04/477217/click-home-kitchen-creations

5. MOX | Mobile Only Accelerator - Women Who Lead: Meet the Champions Who Reverse Expectations
https://mobileonlyx.com/women-who-lead-meet-the-champions-who-reverse-expectations/

6. Tech In Asia - Meet the 10 startups in MOX’s eighth cohort
https://www.techinasia.com/10-startups-mox-eighth-cohort

7. Oriental Daily 东方日报 - 【新创年代】Kravve.co拓经济共享契机
https://www.orientaldaily.com.my/news/features/2020/09/29/366185 

8. Vulcan Post - 1337 Ventures has selected 10 Malaysian startups to invest into - Khazanah Nasional Entrepreneurship Outreach (KNEO) programme.
https://vulcanpost.com/634099/1337-ventures-kneo-investments-2018/

9. Digital News Asia - Sitec announces the top startups from its Selangor Accelerator Programme 2019
- https://www.digitalnewsasia.com/digital-economy/sitec-announces-top-startups-its-selangor-accelerator-programme-2019

 

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14
DEC

Kravve is nominated for the Asean Startup Awards - Startup of the Year (Malaysia)

10 months ago by Teh Yong Lin
draft

08
DEC

Get 25% or up to RM25,000 worth of extra shares for free

11 months ago by Teh Yong Lin
draft

Early investors who subscribe during our pre-live will get 25% or up to RM25,000 worth of extra shares for free. 



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