Float Foods
Float Foods is a Singapore-based food tech startup that developed OnlyEg, Asia's first plant-based whole egg substitute made from legumes, sold to Singapore food service operators and distributed in China/Hong Kong through DayDayCook meal kit partnerships, targeting flexitarian consumers and restaurants.
- Company typePrivate
- Founded2020
- HeadquartersSingapore, Singapore
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Float Foods does
Float Foods is a Singapore-based food technology startup founded in 2020 by Vinita Choolani that has developed "OnlyEg," positioned as Asia's first plant-based whole egg substitute made entirely from legumes. The company's proprietary technology recreates both egg yolk and egg white as distinct components, enabling versatile culinary preparations including sunny side-up, overeasy, scrambled eggs, and applications across Asian cuisines such as nasi lemak, fried rice, mee siam, and carbonara. OnlyEg is positioned as cholesterol-free, free from hormones and drug residues, and nutritionally comparable to chicken eggs.
The company generates revenue through direct sales of OnlyEg to food service establishments in Singapore and through a partnership with DayDayCook for meal kit distribution in China and Hong Kong markets. Float Foods targets two primary customer segments: flexitarian and health-conscious consumers (noting that two in five Singaporeans follow a flexitarian diet) and food service/restaurant operators seeking plant-based menu options. The company employs 1-10 people, operates from a lab and pilot plant in Singapore (Tampines Street 92), and is supported by government institutions including Temasek Foundation, A*STAR, ESG, and EDB, aligning with Singapore's 30 by 30 food security goal.
Float Foods raised approximately USD 1.6 million in an oversubscribed seed round in June 2021, led by DSG Consumer Partners and Insignia Ventures Partners, with additional backing from corporate and venture capital investors including Agrocorp, Apricot Capital, Baksh Capital, Ebb & Flow, Innovate 360, Teja Ventures, and Water Tiger Investments. The company has stated regional expansion plans targeting China, India, and Indonesia, where 65% of global egg production takes place.
Float Foods firmographics
Firmographics- Name
- Float Foods
- Legal name
- Float Foods Pte Ltd
- Website
- https://floatfoods.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Float Foods is a Singapore-based food tech startup that developed OnlyEg, Asia's first plant-based whole egg substitute made from legumes, sold to Singapore food service operators and distributed in China/Hong Kong through DayDayCook meal kit partnerships, targeting flexitarian consumers and restaurants.
- Ownership category
- akta.pro rank
Float Foods industry classification
Industry- Product category
- Plant-Based Food Manufacturing
- SIC
- Food And Kindred Products (2000), Miscellaneous Food Preparations & Kindred Products (2090)
- akta.pro primary industry
- Plant-Based Egg Alternatives Manufacturing (AFAKAGAC)
Keywords
Where Float Foods is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
Float Foods business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Plant-Based Egg Product Sales: Float Foods generates revenue through the sale of OnlyEg plant-based whole egg products to consumers and food service establishments. The company sells directly to restaurants for menu use and through partnerships like DayDayCook for meal kit distribution in regional markets.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels7 records
Float Foods product offering
Product offeringCore offering
Float Foods manufactures and sells OnlyEg, a proprietary plant-based whole egg substitute made entirely from legumes. OnlyEg uses dual-component technology that recreates egg yolk and egg white as distinct components, enabling versatile culinary applications including sunny side-up, overeasy, scrambled eggs, and various Asian cuisine preparations. The product is sold to food service establishments, restaurants, and through meal kit partnerships in Singapore and select Asian markets.
Product overview
Float Foods is a Singapore-based food tech company and the first food tech startup in Singapore dedicated to developing plant-based egg substitutes. The company's sole product is OnlyEg, Asia's first plant-based whole egg substitute made entirely from legumes. OnlyEg features distinct egg yolk and egg white components developed with proprietary in-house technology, allowing for versatile applications including sunny side-up, overeasy, and various Asian cuisine preparations. The product is positioned as a nutritious, cholesterol-free alternative to chicken eggs, targeting flexitarians, vegetarians, and vegans across Asia.
Differentiator
Problem solved
Functional benefit
Brands
- OnlyEg: Asia's first plant-based whole egg substitute made entirely from legumes. OnlyEg offers separate components for egg yolk and egg white, allowing versatile preparations including sunny side-up, overeasy, and scrambled egg styles.
Products and services
- OnlyEg Asia's first plant-based whole egg substitute made entirely from legumes, featuring distinct components for egg yolk and egg white that can be assembled into multiple preparation styles including sunny side-up, overeasy, scrambled eggs, nasi lemak, fried rice, carbonara, and other Asian and Western dishes. Sold to restaurants and food service establishments, and distributed via meal kit partnerships such as DayDayCook.
Quantifiable outcome
- OnlyEg addresses 74% egg import dependency in Singapore while supporting the nation's 30% local food production goal by 2030
- +2 more outcomes
Companies that use Float Foods
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles2 records
Float Foods technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Float Foods partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- DayDayCookcoreSingapore's Float Foods inks partnership with DayDayCook, China's game-changing ready-to-cook brand, to offer Plant-Based Egg Meal Kits. The partnership enables Float Foods to expand OnlyEg distribution into China and Hong Kong markets through DayDayCook's meal kit platform.
Scale indicators5 records
Recent moves5 records
Expansion highlights5 records
Float Foods competitors and assessment
Company assessmentEmerging players
- The EVERY Company (formerly Clara Foods): The EVERY Company produces egg proteins via precision fermentation, supplying B2B ingredient customers across bakery, confectionery, and alternative protein categories. It targets the same plant-egg value pool as Float Foods but uses a fundamentally different (and potentially more scalable) technology approach.
- GoodDot: India-based GoodDot produces plant-based meat analogues (mutton, chicken, egg alternatives) targeting the South Asian market. Its plant-egg product directly competes with Float Foods' stated expansion plans into India, and represents a regional emerging rival with comparable category positioning.
- Tindle (Next Gen Foods): Tindle is a Singapore-based plant-based chicken brand from Next Gen Foods, operating across Singapore and other Asian markets with foodservice distribution. Although focused on chicken rather than eggs, it competes for the same foodservice accounts and flexitarian consumer segment as Float Foods in Asia.
- Moa FoodTech: Moa FoodTech is a Spain-based startup producing plant-based protein ingredients and products including egg-alternative applications using proprietary fermentation. It represents an emerging European peer pursuing the same plant-egg opportunity with a different (fermentation-based) technological route.
Direct peers
- Eat Just (JUST Egg): Eat Just's JUST Egg is the most established plant-based egg substitute globally, sold across US and Asian retail and foodservice channels. It is the direct head-to-head competitor to Float Foods' OnlyEg, although JUST Egg is primarily a liquid scramblable format whereas OnlyEg emphasizes whole-egg presentation.
Broad incumbents
- Cargill: Cargill is a global agribusiness and food ingredient giant with growing plant-based and alternative protein investments (including a joint venture with White Dog Labs and stakes in alternative protein startups). It is an indirect competitor and potential acquirer/investor relevant to Float Foods as a scale partner or competitor.
- Impossible Foods: Impossible Foods produces plant-based meat analogues (beef, pork, chicken) with global foodservice and retail presence including Asia. It is a broader plant-based incumbent that could expand into egg-format products, competing with Float Foods for plant-based protein share of stomach.
- Beyond Meat: Beyond Meat is the largest publicly traded plant-based meat company, with broad retail and foodservice distribution across the US, Europe, and parts of Asia. While focused on meat analogues rather than eggs, it competes for the same shelf space, foodservice menu slots, and consumer plant-based dollars as Float Foods.
- Perfect Day: Perfect Day is a precision fermentation company producing animal-free dairy proteins (whey) at commercial scale, with partnerships across CPG and food service. It is a relevant adjacent incumbent demonstrating the fermentation route to alternative proteins that Float Foods' legume-based approach competes against in the broader alternative-egg narrative.
Regional players
- OmniFoods (OmniPork): Hong Kong-based OmniFoods produces plant-based pork and other meat analogues distributed across Asia, including through foodservice and retail. It is a regional Asia-focused alternative protein player with overlapping customer segments and channels to Float Foods, though it focuses on pork rather than eggs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
Float Foods social profiles
Digital presenceFloat Foods financial estimates
Financial estimateRevenue estimate
Valuation estimate
Float Foods leadership team
Management profileNumber of profiles
Profiles1 record
Float Foods funding detail
Funding detailFunding overview
Funding rounds2 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Float Foods M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Float Foods
What does Float Foods do?
Float Foods manufactures and sells OnlyEg, a proprietary plant-based whole egg substitute made entirely from legumes. OnlyEg uses dual-component technology that recreates egg yolk and egg white as distinct components, enabling versatile culinary applications including sunny side-up, overeasy, scrambled eggs, and various Asian cuisine preparations. The product is sold to food service establishments, restaurants, and through meal kit partnerships in Singapore and select Asian markets.
Is Float Foods a public or private company?
Float Foods is a private company. It is classified as venture growth investor backed and is currently operating.
When was Float Foods founded?
Float Foods was founded in 2020. It employs 1 to 10 people.
Where is Float Foods based?
Float Foods is headquartered in Singapore, Singapore, in the Asia region.
How does Float Foods make money?
One revenue line is on record: plant-Based Egg Product Sales.
Who are Float Foods's main competitors?
Emerging players on record are The EVERY Company (formerly Clara Foods), GoodDot, Tindle (Next Gen Foods) and Moa FoodTech. Eat Just (JUST Egg) is listed as a direct peer. Broad incumbents are Cargill, Impossible Foods, Beyond Meat and Perfect Day. OmniFoods (OmniPork) is listed as a regional player.
Does Float Foods have an API?
No public API is recorded for Float Foods.
What industry is Float Foods in?
Float Foods's product category is Plant-Based Food Manufacturing. Its primary akta.pro industry code is AFAKAGAC, Plant-Based Egg Alternatives Manufacturing. Its SIC code is 2000.