immi Raises $3.8M for Plant-Based Instant Ramen

Immi Secures $3.8 Million to Revolutionize Instant Ramen

Immi is introducing a healthier approach to instant ramen, focusing on plant-based ingredients and bolder flavor profiles. The company recently announced a successful seed funding round, raising $3.8 million on Tuesday.

Founders' Background and Inspiration

Co-founders Kevin Lee and Kevin Chanthasiriphan share a heritage rooted in the food cultures of Taiwan and Thailand, respectively. They initially connected a decade ago while employed at a technology firm, bonding over a shared fondness for noodles.

Observing health challenges within their families – specifically, diagnoses of diabetes and high blood pressure – prompted them to envision a food and beverage brand prioritizing wellness.

Driven by their appreciation for Asian cuisine, they sought to create a brand tailored for the U.S. market.

Addressing a Large, Yet Stagnant Market

“Instant ramen was the immediate consensus,” Chanthasiriphan explained to TechCrunch. “Even my father enjoys it nightly, and it represents a substantial market – 4 billion packets sold annually. However, this market has largely remained under the control of three major companies for years.”

The global instant noodle industry is projected to reach $32 billion in value by 2027, with the U.S. accounting for $7.7 billion. However, conventional ramen often contains refined carbohydrates cooked in oil, alongside soup packets laden with sodium and preservatives.

Immi's Unique Offering

Immi distinguishes itself through its plant-based formulation, low carbohydrate and sodium content, high fiber levels, and an average of 22 grams of protein. Currently, the product is available in three distinct flavors: Black Garlic “Chicken,” Tom Yum “Shrimp,” and Spicy “Beef.”

The founders dedicated themselves to the company full-time in 2019, investing several years in research and development. Creating a healthier ramen alternative proved challenging, with industry experts initially deeming it “impossible,” according to Lee. This led them to independently formulate their own recipes, starting in their home kitchens.

Reformulation and Funding Details

This funding round coincides with Immi’s release of a reformulated product, designed to closely mimic the taste, texture, and overall experience of traditional instant ramen.

Siddhi Capital spearheaded the investment, with participation from Palm Tree Crew, Constellation Capital, Animal Capital, Pear Ventures, Collaborative Fund, and a diverse group of individuals. This includes Patrick Schwarzenegger, Kat Cole, Nik Sharma, and leaders from Thrive Market, Caviar, Daring Foods, Madhappy, Twitch, Kettle & Fire, MUD\WTR, Native, Amity Supply, Visionary Music Group, Italic, Tatcha, and Casper.

Strategic Partnership and Market Trends

Melissa Facchina, co-founder and general partner at Siddhi Capital, highlighted her firm’s focus on food and beverage brands, and their operational support for the Immi team.

“We were incredibly impressed by their vision,” she stated. “Innovation in this sector requires significant investment, and it’s exciting to have a convenient, healthier option for my family. The latest iteration closely resembles the classic brick pack and offers flavors appealing to a more sophisticated palate.”

Facchina noted the significant evolution of the natural and better-for-you foods industry over the past decade, driven by consumer demand for supply chain transparency, cleaner ingredients, and authentic brands.

Reinventing Categories and Founder Potential

Many established brands are successfully reinventing themselves, but few are targeting categories ripe for disruption, such as cereal. Facchina’s firm has invested in Magic Spoon and believes Immi is poised to revolutionize ramen and Asian cuisine. She described Lee and Chanthasiriphan as “highly adaptable, ambitious founders who prioritize surrounding themselves with top talent.”

Future Plans and Expansion

The new funding will be allocated to research and development, talent acquisition, and marketing initiatives, according to Lee. The company is actively incorporating customer feedback to refine flavors, optimize its supply chain, recruit key executives, and explore new marketing channels. Currently sold through its online store, Immi aims to expand into wholesale and online grocery channels.

Launched in January, Immi’s initial product run sold out within the first month without any marketing efforts. To date, the company has fulfilled over 10,000 orders across the U.S. and is exploring international opportunities.

Innovation and Community

Looking ahead, Immi will focus on two key initiatives. First, they will build the infrastructure to broaden their product line, introducing new flavors and noodle varieties on a regular basis. Lee and Chanthasiriphan also plan to develop additional Asian-inspired food products with cleaner ingredients, reminiscent of the snacks and confections they enjoyed as children.

Second, they will continue to leverage their community of 4,000 members for rapid taste testing and product development.

“We are focused on reaching a wider audience, including consumers who may not be actively seeking a specific diet, but are interested in healthier food and beverage options,” Lee explained. “We are also collaborating with cultural tastemakers, celebrities, and TikTok influencers to increase brand awareness and integrate Immi into mainstream culture.”