Hoow Foods Pte Ltd, a food technology startup that specialises in reformulation technology, announces that it has closed a US$1.2 million (S$1.7 million) seed round led by local food and beverage heritage brand Killiney Group.
With the injection of the seed funding investment, Hoow Foods said that it plans to develop and focus on its Research and Development and human resources.
It has said that the organisation’s key milestones would involve the development of a “more extensive range of innovative food products as well as staff strength expansion to strengthen its synergistic approach in the pharmaceutical and food sciences”.
Hoow Foods focusses on transforming indulgent foods into healthier versions while still retaining taste and texture.
It was founded by four alumni of the National University of Singapore.
Its products include Callery’s Ice Cream, low-calorie ice cream in a pint that contains more than 70 per cent lower calories, fat, and sugar.
Operating since 2018, Hoow Foods said that it will soon launch a healthier option of ice cream, coffee, snacks, and staple foods.
“A healthier lifestyle hits at the source of the problem, and a large part of it is diet. But food is emotional, and most would rather sacrifice health than their favourite food. We are confident to produce game-changing food products that do not sacrifice on taste and texture but also making it healthier at the same time.” said CEO and Co-Founder Ow Yau Png.
Png further explained that Hoow Foods have both pharmaceutics and engineering backgrounds in its team, and it hopes to change the way people consume food, and the food they consume.
Killiney Group is known for its start in a Hainanese coffee shop located on Killiney Road in Singapore. It now boasts over 100 outlets and establishments in the region.
Director of the Killiney Group, Woon Tien Yuan, said, “2019 marks Killiney’s 100th anniversary. We are constantly challenging ourselves to innovate and to enter new markets while staying relevant in the ever-changing F&B scene. Our investment in Hoow Foods is a big step forward for the Killiney brand. This strategic partnership allows Killiney to tap on Hoow Foods’ expertise in food technology and food formulation, which signifies Killiney’s strong belief in research and development.”