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Sydney-based direct-to-consumer (D2C) brand The Best of Moi has successfully closed an $850,000 pre-seed round to bolster product development and customer experience for its liquid dietary supplements branded as "Fabulous Moi".
The 'Moi' in the brand is pronounced 'Mwa' like the French word for 'me', and not like the 'Look at Moi' line in the TV series Kath & Kim.
TBOM was founded by its CEO Lu Nan and COO Quinten Wang in 2020, although it took years of scientific formulation and development, and Therapeutic Goods Administration (TGA) approval, before its website could be officially launched in April this year.
Lu Nan tells Business News Australia that her experience as an ardent traveller was part of the inspiration, in tandem with the outbreak of the COVID-19 pandemic which saw a greater focus on immune health amongst the general public.
"As a backpacker, maintaining high energy levels, good digestion, and a robust immune system was crucial, especially when venturing into areas with unfamiliar diets," says Nan, who came from a corporate marketing career with senior roles at ABB, Ironfish, The iQ Group Global, and Access Corporate Group.
"I relied heavily on dietary supplements, yet the multitude of pills and capsules I had to carry became an arduous task. The need for a more convenient solution became clear.
"Partnering with industry-leading experts, we brainstormed and navigated this long-standing problem. The fruit of our collective effort is the Fabulous Moi Daily Super Shot, a convenient five-in-one health solution, ready to support daily health needs in five distinctive ways."
This super shot is brimming with 11 active ingredients like globe artichoke, Vitamins B group (Biotin, B2, B3, and B12) and C, gingko, iron, magnesium, zinc and PEPTAN B hydrolysed collagen to help enhance immunity, support brain health, maintain gut health, support energy production and help promote collagen formation.
A study conducted by the Council for Responsible Nutrition (CRN) in 2018, found that nearly half of all dietary supplements purchased are not consumed for reasons including expiration, lack of effectiveness or side effects, or simply forgetting to take the supplement.
TBOM's super shot was formulated in response to this challenge, designed to be convenient tasty and easy, eliminating the perceived challenge of hard-to-swallow pills.
The company also claims to be a plastic-free and carbon-neutral wellness brand committed to using eco-friendly materials and responsible sourcing.
Nan says all bottles are made from high-quality medical-grade aluminium, one of the most recyclable and sustainable materials available, while inner and outer packaging is either fully recyclable or from recycled materials.
"Another significant inspiration was the plastic waste I encountered during my travels. The harsh reality of its impact on our planet moved me deeply," says the co-founder.
"With travel at a standstill during the pandemic, I seized this opportunity for introspection. I committed to creating a brand that not only positively impacts individual lives but also addresses these urgent environmental issues.
The pre-seed round a group of serial entrepreneurs and venture investors whose names could not be disclosed, although they all share a common goal: to build sustainable consumer brands that positively impact people's lives.
She says the investment will be used towards five key areas, the first being product development which will receive a "significant portion of the funds", in addition to marketing and brand awareness, sales channel expansion, operational movements, and sustainability initiatives.
"We've formed a strategic partnership with Evertreen, a renowned organisation dedicated to environmental sustainability," Nan says.
"This collaboration allows us to offset our carbon footprint effectively. As a result, each month, we're contributing to the planting of over 800 trees, the creation of over 100 working hours for local farmers across eight countries, and the offsetting of more than 650 tonnes of CO2 emissions.
"This initiative not only mitigates our carbon emissions but also generates positive social impact by providing employment opportunities for farming communities."
The company currently only sells its products online, but TBOM is also targeting an expansion to range with major retailers like Coles Local, Woolworths Metro, and Harris Farm, as well as niche health and wellness stores. An overseas expansion is planned for 2024.
"At The Best of Moi, we stay grounded while nurturing big ambitions," Nan concludes.
"Our vision for the future includes extending our reach through an array of sub-brands tailored to various aspects of health, wellness, and lifestyle. In our pipeline is an exciting initiative to launch a line of sustainable personal care products."
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