mohjo, a Singapore-based direct-to-consumer brand focused on clean-label, plant based dairy-alternatives, announced that it has secured its seed funding. This round is led by East Ventures, with participation from iSeed Southeast Asia, K3 Ventures, and other high-profile angel investors.
Founded in January 2021 by Juhi Dang, mohjo aims to deliver 100% clean, plant-based foods and beverages. mohjo recently launched its first line of products – almond milk and almond-milk based beverages in Singapore. The products are made in Singapore in a company-owned facility with high quality ingredients, and are free from stabilizers, thickeners, artificial sweeteners, or any other chemical ingredients. The investment will be used to build capacity, launch more products, strengthen the team, and increase market penetration.
“Most commercially available dairy-alternatives are nutrient-low and stabilizer-heavy. They contain 95-98% water, are laced with additives, and either taste bad or have no taste at all,” said Juhi Dang. “mohjo is a result of me trying to solve these problems as a consumer of dairy-alternative products myself. I grew up drinking fresh milk. But when I discovered I was lactose intolerant, I just couldn’t find a plant-based milk that tasted as good,” she explained. “When I relocated to Singapore, I thought I would find tasty and clean dairy-alternatives here, but that was not the case. All I could find was liquid that looked like milk with none of the nutrition or taste.”
Dairy-alternatives is a ~$23 billion market globally, expected to grow at ~12.5% CAGR between 2021-28. Asia-Pacific region dominates this market with a ~44% market share, according to Grand View Research. The market for dairy‐alternatives is booming because of rising lactose intolerance, increasing focus on healthier choices made by consumers, rising number of flexitarians, and increasing ethical and environment concerns of consuming dairy.
mohjo is a digital native brand and has a mission-driven team with extensive experience in consumer innovation, branding and strategy. Its founder, Juhi, is a hands-on leader with over 13 years of experience in consumer-first product innovation. Company senior leadership comprises of professionals with experience in branding and digital marketing.
mohjo is expanding rapidly across operations, sales, and marketing functions in Singapore. “We are looking for passionate and ambitious folks who believe that we can change the planet with the choices we make at meal times. mohjo is building an inclusive workplace where business is done the right way,” Juhi added.
Willson Cuaca, Co-founder and Managing Partner of East Ventures said, “As the lactose intolerant population is growing across the world, we see a huge opportunity from plant-based alternatives. The market is gaining momentum and witnessing a rising demand, especially driven by the ongoing COVID-19 pandemic wherein people re-evaluate their diets. As a DTC (direct-to-consumer) company, mohjo was established to serve the consumers who seek for better health yet delicious foods and beverages. We believe that the company can grow by bringing innovations to the market.”