SEOUL, Oct. 8 (Korea Bizwire) – Egnis, a startup company that sells meal replacement formulas, succeeded in raising 10 billion won in 29 hours through crowd funding. The funds were raised to mass produce a new product called Lab Nosh.
Egnis started its campaign on the Wadiz (www.wadiz.kr) crowd funding site, at 11 a.m. on October 5. The company reached its goal at 4 p.m. the next day. On October 6 at 7 p.m., the results were tallied, showing that 319 people participated, contributing funding of 10,519,400 won.
Lab Nosh is what might be referred to as a ‘progressive meal’. It is a liquid food that is made by mixing water with a powder that contains various nutrients. The nutrients are balanced according to the standard amount set by the Korean Nutrition Society, and one can feel full and satisfied for 5 hours with one 400㎖ serving.
Lab Nosh was inspired by Soylent, another meal replacement developed in Silicon Valley and sold in America since 2013.
Egnis officials say that most of the investors who funded the project were typical busy workers. The investors showed a positive response towards the product as its small size and weight make it easy to transport, and its also a good way to keep healthy.
By Kevin Lee (firstname.lastname@example.org)