Trường foods: BizCare's excellent mentee successfully raised 15 billion VND for 20% share

Nguyen Thi Thu Hoa, the CEO of Truong Foods, recently made an impressive funding pitch that caught the attention of all four Sharks in Season 5, Episode 10 of Shark Tank Vietnam.

Source: Shark Tank

Truong Foods is a startup that specializes in producing and distributing Thit Chua (fermented meat), a specialty of Phu Tho province. Currently, the company has 5,000 points of sale, accounting for 40% of the fermented meat market in Phu Tho and neighboring provinces. In 2021, the company's revenue reached 52 billion VND, and their goal is to reach 420 billion VND in revenue by 2025 and become the number one fermented meat producer in Vietnam.

Traditionally, fermented meat can only be preserved for 10-15 days, but through research and development, Truong Foods has been able to extend the shelf life of their product to two months without using any preservatives. Their product has also obtained ISO certification from the Phu Tho Province Food Safety and Hygiene Department, and their meat is sourced from suppliers with all the necessary paperwork.

With these impressive numbers and a confident demeanor, Hoa caught the attention of the Sharks. After negotiations, Shark Binh decided to invest 15 billion VND for a 20% stake in the company, along with a golden ticket worth 200 million VND. The success of Truong Foods is a strong motivation for BizCare in their journey to nurture and develop startups and connect them with resources in the entrepreneurial ecosystem.