One Good [Acquired by Nourish You]

We are very proud to be spilling some HUGE news in the Indian plant-based sector today! If you have been following our brand, please make sure to follow Nourish You to stay in touch with us and be a part of our new journey going forward. To a kinder, better world, Team One Good

For the record, we love soy! There's no harm in exploring more options. Excellent insight by Abhay Rangan

I’m thankful to PETA India for naming me as one of the winners of their inaugural Compassionate Young Entrepreneur Award this year. Incidentally, 10 years ago, PETA India had named me their Outstanding Activist of the Year (2014). This Jan, I completed 13 years of veganism, and I’m sure I’ll be in the movement for the rest of my life. My motto has been ‘Ask not what the community can do for you. Ask what you can do for the community’. This movement has given me so much. I feel I’m just getting started - there is so much to do. Onward.

I usually do an end-of-the-year roundup about our company. This time, I'll do an end-of-2023 roundup of the Indian plant-based food space. I'll cover this in 2 separate posts. Part 1 (this post) will be about the Market and Products. Part 2 will be about Investors and People. 1. The Market - still nascent. It is early days. It is tempting to say the TAM is equal to that of the dairy or meat industry, but that's a mistake. It's a lot smaller. The number of paying customers are small relative to India's population, and they are spread across the country. This can be interpreted in two ways- one being that the demand for these products doesn't exist (which I don't think is true), the other being that the demand isn't being serviced yet with the right kind of products (which I think is true). This brings us to - 2. Products - Indians want nutritious, healthy, tasty, value-for-money food. In the case of substitutes to animal products, they in addition want products that taste similar and can accomplish the same jobs they use animal products for. This may seem like a common-sense thing to say, but it is a lot harder to implement. You can think of the evolution of products in versions - V1 - Products like soya chaap, tofu, soy/coconut milk. They are not exact replacements by taste, but they meet many attributes that consumers seek. They are usually cleaner in label and are pocket-friendly, although not at price-parity. V2- Products with texturised vegetable proteins, extruded products, oat milks, millet milks, milks with multiple grains etc. They are closer in taste, but price is a barrier, and there is some distance to cover with cleanliness of label. Most V2 products today are priced at INR 300 per pack. V3 - we don't yet know what these products will be, but we can say for sure that they will have a clean label and will have price and taste-parity with their animal counterparts. Some of them may even taste better (hard to define this right now. It's like asking you to visualise a colour you haven't seen before). Cultivated meat/dairy perhaps may accomplish a lot of this, but consumer acceptability is yet to be proven in India. The key to unlocking these taste, texture and flavour profiles (from the plant-based side) will be to try ingredients that V2 products aren't using. For example, we made curd from Avarekalu/Hyacinth Bean at home. It was a totally novel product. Taste wasn't like curd but it was amazing to try. Thankfully, India has so many plant-based ingredients that haven't been explored. V4 - this is like playing 4D chess. These products that don't resemble animal products at all but deliver outstanding nutrition at a great taste and an impossible price. I say that the best plant-based product I've ever eaten is a Masala Dosa (although I wouldn't call it V4 food). People just want good, nutritious food. You can do this without trying to imitate anything at all. V3 and V4 are very exciting. More in the next post.

Exciting news 📣 | Nourish You India has acquired 100% of One Good [Acquired by Nourish You], marking the largest M&A deal in India’s alt-dairy space! This strategic move merges Nourish You's robust retail network (2500+ stores!) with One Good’s digital expertise, bolstering their combined presence in the sector. 🌱 With growing consumer familiarity with plant-based dairy and nearly two-thirds of plant-based companies focusing on dairy alternatives, this partnership is both timely and rooted in success! 📈 As Nourish You prepares for a Series A round of ₹60 crores ($7.2M) in 2024, this deal marks a significant step toward making #smartprotein more accessible and affordable in India. For more details on this acquisition, read Green Queen Media’s article: https://lnkd.in/dvVECUjs Radhika Datt Abhay Rangan Dhivakar Sathyamurthy Rakesh Kilaru Krishna Reddy #plantbaseddairy #veganmilk #acquisition #goodfood

Direct-to-consumer (D2C) superfood brand Nourish You India acquires Bengaluru-based One Good [Acquired by Nourish You] 👇 Following the acquisition, the One Good team, including CEO and cofounder Abhay Rangan, CFO and cofounder Radhika Datt, and COO Dhivakar Sathyamurthy will join Nourish You. Meanwhile, Nourish You was floated by Krishna Reddy, Rakesh Kilaru and Sowmya Reddy in 2015. It offers nutrient-rich breakfast food products and snacks to consumers via its website and ecommerce marketplaces. “The acquisition integrates Nourish You’s commitment to animal welfare with our existing values of nourishing consumers, farmers, and the planet. It also reinforces our commitment to make healthy, flavorful plant-based foods, affordable and accessible,” Krishna Reddy said. To know more click here: https://lnkd.in/dJsgHdAW #acquisition #india #d2c #startup

Pioneering Superfood Brand One Good [Acquired by Nourish You] Acquires one good , India’s Most Affordable and Versatile Vegan Brand Krishna Reddy Read more at: https://lnkd.in/diUW6J3A

Thank you Inc42 Media for spotlighting OUR announcement! We are incredibly grateful to be featured. https://lnkd.in/gNbSZAm3

Our co-founder Radhika Datt was recently featured in a podcast. The vegan and plant-based sectors continue to grow, but consumer education remains a challenge. Radhika has some powerful insights, so listen up! https://lnkd.in/gJUbNiv3