Slovenian startup Juicy Marbles is gearing up to enter new markets with its highly-differentiated plant-based meat products in 2023. The company, which offers plant-based filet mignon steaks, whole cut loins, and ribs, claims to deliver an unparalleled experience in the category. While the products come with a hefty price tag, Juicy Marbles’ CEO Tilen Travnik believes that their unique quality and the company’s edgy brand personality will set them apart from the competition.
Travnik acknowledges the challenges ahead but remains confident in the company’s ability to succeed. He emphasizes the importance of standing out from the crowd and having an authentic brand that resonates with consumers. Juicy Marbles’ brand name certainly catches attention and reflects the company’s commitment to offering innovative plant-based alternatives.
In an interview with AgFunderNews, Travnik discusses the origins of Juicy Marbles and the journey the company has taken so far. The idea for the company came about when two University of Ljubljana students presented a bioreactor built into a Nutella jar at a hackathon. Travnik, who was involved in the local startup ecosystem, decided to mentor the students and eventually became a co-founder of Juicy Marbles.
The company initially focused on creating plant-based patties but faced challenges when a copacker dropped them just before their launch. However, they managed to find another copacker and successfully got their product on shelves in under four months. Despite facing competition from Beyond Meat and private label patties, Juicy Marbles learned valuable lessons from their initial product launch, which helped them refine their strategy and secure retail accounts.
Juicy Marbles’ success lies in its commitment to creating high-quality plant-based alternatives. Travnik explains that the company uses premium ingredients like potato protein, which sets their products apart. They also developed a unique technology to create whole cuts, such as steaks, which consumers were demanding. By tinkering with texturization technologies and combining soy protein concentrate, sunflower oil, and other ingredients, Juicy Marbles was able to create plant-based filet mignon steaks that closely resemble their animal-based counterparts.
The company’s manufacturing setup is currently in-house, with a pilot facility in Slovenia producing an average of one ton of product per day. Travnik believes that scaling up production to meet increased demand won’t be a major technical challenge. Juicy Marbles has already secured partnerships with major retailers like Waitrose, BILLA, and Migros, and initial feedback on product velocities has been positive.
When it comes to fundraising, Travnik acknowledges the difficulties in the current market. However, Juicy Marbles made the strategic decision to focus on profitability and lean operations. With a high-value product and a lean organization, the company has already achieved profitability within five months. They have raised additional funds from existing and new investors, allowing them to continue scaling their business.
As Juicy Marbles prepares to enter new markets in 2023, the company’s highly-differentiated products and authentic brand will be key to their success. With a focus on quality, innovation, and profitability, Juicy Marbles is poised to make a significant impact in the plant-based meat industry.