GoodMorning Global Group, a provider of “affordable” plant-based balanced nutrition for Malaysia and global communities, has secured a record RM20 million (US$4.4 million) from over 1,000 investors in an equity crowdfunding (ECF) campaign.
The company will use the funds to accelerate biotechnology and food technology research while supporting its prospective IPO listing over the next two years.
Established in 2008, GoodMorning Global is a nutritional multigrain and biotechnology company. It engages in research and production of plant-based protein and multi-grain products.
In H2 2023, GoodMorning Global aims to officially launch its first flagship product in future food and alternative protein – WonderMeat, a dry-mix complete nutrition plant-based meat. The product is partly subsidised by the GoodMorning Vision Fund and is slated for release to the public in Q4 2023.
It also plans to grow its market share from the current 70 per cent.
In addition, the company said its subsidiary GoodMorning Bio Industries received Bio-Based Accelerator (BBA) status from the Malaysian Bioeconomy Corporation. The certification is expected to help GoodMorning Global ramp up product research and development to meet better Malaysia’s growing demand for the consumption and export of plant-based protein products.
Further aligned with this, GoodMorning Global has signed Memorandums of Cooperation with its collaborative research partners Universiti Tunku Abdul Rahman (UTAR), Tunku Abdul Rahman University of Management and Technology (TAR UMT), and its Middle Eastern trading partner in Sultanate of Oman, Eastern Arrow LLC. The strategic partnerships will set in motion collaborative research projects to expand the local “future food and alternative protein” industry for greater food security.
“While global challenges to food security have emerged more aggressively, such as rapid urbanisation and climate change, GoodMorning Global sees this as a catalyst for innovation and transformation as part of global efforts contributing towards the United Nations’ Sustainable Development Goals. To this end, we are actively participating in more cross-industry collaborations — facilitating knowledge exchanges is key to ensuring that the Malaysian food and biotech industries nurture a brighter future of food with plant-based solutions and provide sustainable food solutions for now and beyond. In GoodMorning, we have a dream, and that is to end hunger and no one should go to bed hungry,” said Dr. Charles Cheng Fang Chin, CEO and CFO of GoodMorning Global.
Reported by: e27 27 July 2023
Full article:
https://e27.co/plant-based-meat-firm-goodmorning-global-bags-us4-4m-via-ecf-20230727/