Strategy Business, Brand
How Growthwell transformed from a vegetarian food manufacturer to Asia's leading plant-based food innovator
Nourishing a new era
For those who may not know, can you briefly describe Growthwell's journey?
Gladly. When Growthwell approached our team, they wanted to evolve from a vegetarian food manufacturer to Asia's leading plant nutrition and food innovation company. Their aspiration was a powerful one: harnessing the power of plants to nourish a hundred million lives. It was bold, but our team, and theirs, knew they had the potential to make it happen.
That's ambitious indeed. This must have been a challenging process.
You know the quote from Mahatma Gandhi, “Be the change you want to see in the world.” One of the biggest challenges was changing the mindset of their team. They had to move away from traditional thinking and embrace a new philosophy and ideology. This needed them to go through a significant cultural shift, but they were willing to put in the work.
Growthwell had to move away from traditional thinking and embrace a new philosophy and ideology.
How did Louken support them in this process?
We facilitated a strategic planning exercise with their management team to align everyone around the new vision. We helped them set new goals, aligned their resources, and came up with the details of the direction, tactics, and activities to chart their new course.
To tie it all together, we then helped develop a new brand signature and identity that reflects their innovative approach to plant-based nutrition: a modern, forward-looking, and clean look. Growthwell is to be seen as a modern startup that embraces new technologies and R&D, ushering in a new era in Asian veganism.
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We aligned their team around the new vision and helped guide them on their course with a new brand signature and identity.
So how did this transformation impact Growthwell's growth and success?
Growthwell’s success was marked by the raising of US$8 million in a funding round led by Temasek Holdings. To push them even further ahead, they raised another US$22 million in Series A funding in a round led by private equity investment firm Creadev. GGV Capital, Iris Fund, and existing investors Temasek and DSG Consumer Partners also participated in the round.
If that doesn’t show promise, I don’t know what does.
Tell us, what lessons can other companies learn from Growthwell's story?
It's a testament to Growthwell’s strong belief in innovation and commitment to the plant-based movement. They're now perfectly poised to achieve their goal of nourishing a hundred million lives.
Embrace change, align your team around a shared vision, and don't be afraid to make hard changes. Take bold steps towards where you want to go.
Also, focus on making a meaningful impact, and the business success will come naturally.
How did Growthwell's transformation impact the plant-based food industry?
Growthwell's approach has inspired many other companies to rethink their strategies and invest in plant-based nutrition. Together, they're helping to drive a larger movement towards sustainable and healthy food options.
We're proud to have played a role in their journey and look forward to seeing the impact they'll continue to make. Hundred million lives? Hundred million thumbs up!
