Origo

Origo 100% Compostable; 100% Science

Agri Tech B2B Clean Tech Consumer Goods & Services Startup Mranti
Share Allotment
  • RM 2,707,505
    271% of the Min.Target (RM 1,000,000)
  • 65
    Investors
  • RM 837,500
    Largest Investment
  • 6 Mar 2024
    Cooling Off Period End Date

This campaign was successfully funded on 29 Feb 2024.

  • Equity - OS
  • ~ up to 18.52%
  • RM 26,394,875
  • RM 1,000,000
  • RM 6,000,000
  • -
  • Origo Eco Sdn Bhd
  • No. 25, Lorong Beringin 2, Taman Industri Beringin, 14100 Simpang Ampat, Penang, Malaysia.
  • 1473767W
  • Scale up from 24k pieces to 200k pieces to generate RM90mil per annum by 2025
  • World’s first wood-free pallet with blockchain and an LOI of 100k pieces from Saudi
  • 70% of revenue comes from the global market, McD Japan & Australia is interested in RiceStraws™

Summary

MRANTI curated campaign 

Malaysian Research Accelerator for Technology and Innovation (MRANTI) has joined forces with pitchIN to assist startups in securing funds through equity crowdfunding. This partnership facilitates investor support for innovative regional startups, with MRANTI offering crucial guidance. The collaboration promotes regulated alternative financing, establishing it as a preferred option for businesses and investors in Malaysia.

Origo Eco replaces non-sustainable daily-use products with compostables made from upcycled agriculture waste and byproducts such as rice husk, oat hull, broken rice, and many more. 

Origo also works with clients to ensure the proper end-of-life of the used products by converting them into compost soil to benefit the planet. 

Our technology can convert different kinds of agricultural waste and byproducts into compostable materials without being restricted to only 1 kind of agricultural waste or 1 kind of product.

Problem


 


Origo is solving carbon emission problems caused by agricultural waste and waste from non-sustainable products. The various kinds of waste, agriculture or plastic waste, contribute 45% of carbon emissions, causing massive pollution.

Solution


 

Origo upcycles various kinds of agriculture waste into compostable materials that can then be made into various daily-use products. The used products can be converted into compost soil, not leaving behind any footprint or occupying any landfills. The compost can be used to rejuvenate land used for plantations, benefitting farmers and the earth. This solves the agriculture waste and landfill problems that the world is facing currently.

Product


Origo has the technology, formulation, and process to convert agriculture waste and by-products into 100% compostable products. This allows all products created to decompose into compost soil without harming the earth. 


With the formulation and process, we are able to study various kinds of agriculture waste and byproduct without limiting us to only 1 kind of waste. 

Whenever we do our research on any waste or product, we will ensure we meet the 4 objectives below:


 

  • 100% toxin free – no traces of any preservatives, acid, or synthetic additives used in the process
  • Quick composting – all products need to decompose quickly and effectively
  • No deforestation – any raw materials used should not cause any deforestation, raw materials should come from existing plantation
  • Competitive pricing – For example our RiceStraws are 1-3 cents more than paper straws, our pallets can match wooden pallet price.
     

Traction


Our YTD2023 revenue is approximately RM994,000, a 48% increase from Jan – Sept FY2022 revenue. Until Sep 2023, we have sold 51 million pieces of RiceStraws, saving 89.5 million grams of CO2 emission caused by plastic straws.

Yearly sales comparison report is provided below:



 

Our key milestone is securing an exclusive partner in Japan with a monthly commitment.  By changing the model to looking for international partners rather than traditional distributors, we attract the right partners to help build our brand in different countries.

Customers




Currently our clients include Coffee Bean & Tea Leaf, HuckleBerry Café, Penang Hill, Lexis Hotel Group, Rasa Sayang Resort, Golden Sands Resort, Four Seasons Hotel etc.

We target F&B chains, hospitality industries and international partners who are keen to distribute the products in the countries. By targeting hospitality industries, we are able to run sustainability and marketing initiative to increase the awareness on alternative materials

For local F&B and hospitality industry, we reach out to the GM/CEO and the marketing department/Sustainability department to propose the RiceStraws. For international clients we work with our partners to draft out sustainable solutions for their clients, and also various programs and solutions for their local markets via the government/agencies or corporate companies.

Business Model


 

  • We study different kinds of waste and different kinds of non-sustainable products. We then convert the agriculture waste and byproducts into well-engineered products that are compostable.
  • The goals of the company is to set up facilities in different regions of the world to tackle different kinds of agricultural waste and byproduct in that particular region and to uplift the local communities. This allows the company to expand its business operations into different countries while achieving maximum impact.
  • In terms of our marketing strategy, all our partners around the world adopt our brand. That means resellers would utilize our marketing collaterals, videos, and even brand names when they sell to customers worldwide. 

Market


 

  • We sell our existing products to the hospitality and F&B industries. In terms of the global polymer market, the global market size in 2030 is expected to be USD838.5 billion. For straws utilization, the Americans utilize 11.86 billion plastic straws per month and the Europeans use 1.985 billion plastic straws/month. We are looking to target 1-5% of the market in the coming 3-5 years.
  • We are exporting our products world wide, less of SEA and ASEAN region. With the fundraise from our ECF campaign, we are setting up a facility to produce up to 24,000 pieces of compostable pallets per month to tap into the logistic industry. At the same time, continue growing our RiceStraws market by expanding into Korea, Australia and further penetration in the European region.

Competition


We do not have an exact competitor who does the same as us but we do have competitors who produce some of the similar range of products. For example, there are manufacturers of pressed wood pallets, or recycled wood pallets. Also, there are traders of biodegradable and earth-friendly straws, both locally and globally.


There are 4 factors that we consider when we study agriculture waste and also the product:
i) 100% toxin free- all our products do not contain any synthetic additives, acid or preservatives
ii) quick-composting - all our products decompose quickly
iii) no deforestation - we do not come up with new materials that are compostable but will cause deforestation to start a new plantation or industry.
iv) price competitive - all our products will have to be competitive in terms of pricing compared to the current alternatives/options.

Funding

We are planning to raise a maximum of RM 6million at RM25 per share. The funds will be used as below:

  • RM2 million to set up World's First wood-free, compostable pallet equipped with blockchain traceability
  • RM1 million for RiceStraws CAPEX
  • RM2 million for OPEX of RiceStraws & Pallet product respectively
  • RM1 million for the Sales & Marketing for each product respectively.

     

Vision



Origo Eco vision is to replace non-sustainable disposable items with compostable ones by upcycling agriculture waste and byproduct into compostable materials.  The ultimate goal of the company is to have facilities set up all around the world to tackle different kinds of agriculture waste and byproduct while uplifting communities all around the world.
 

Founders

Team



 

 

 

 

 

Vaneshree Appalasamy

  • Bachelor’s Degree in Business Administration, in charge of all the production scheduling, job orders and deliveries of goods
  • She ensures that orders that come in from clients are planned out, produced, and delivered in a timely manner.

Investment Terms

Pre-ECF Share Capitalisation Table*

Disclaimer
*All shareholders' shares shown in this pre-ecf capitalization table above have yet to be fully allotted their shares.

Post-ECF Share Capitalisation Table

Disclosure

  1. pitchIN and its officers and staff may also be investing in this campaign
  2. Under ECF Guidelines, valuation is determined and set by the Issuer. Investors are advised to carefully peruse all investment offers and documents before making investment decisions.
  • Equity - OS
  • ~ up to 18.52%
  • RM 26,394,875
  • RM 1,000,000
  • RM 6,000,000
  • -
  • Origo Eco Sdn Bhd
  • No. 25, Lorong Beringin 2, Taman Industri Beringin, 14100 Simpang Ampat, Penang, Malaysia.
  • 1473767W
Warning
Equity Crowdfunding is risky. You are investing in early stage companies which may not do well and could even fail. You could lose part or all of your investment. You may not be able to sell your shares easily. Learn more