Startup company Carpe Ri Sdn Bhd is set to take on the challenge of offering unique marketing and branding options for companies through its eco-friendly ice cream product, the ‘Float On Cone’.
Co-founded by Joon Tan and Danieul Mudali, the company offers customisable delicious ice creams which are able to carry colours brilliantly, allowing clients to customise the dessert and use unique dessert offerings as part of their branding exercise.
“Take AirAsia or Grab for example. We can create confections which accurately reflect their logo colours and even incorporate their unique backstory with the use of appropriate ingredients,” Tan said.
As the company plans to embark on its next chapter of growth, targeting to become a US$100 million (US$1=RM4.34) company by 2030, both Tan and Mudali are looking forward to work with clients, especially global quick service restaurants (QSRs).
“We are in the midst of negotiations with a few brands in the Philippines, Indonesia and Malaysia, but we are not at liberty to reveal more as we have existing non-disclosure agreements,” said Tan.
She said the ‘Float On Cone’ has a very small carbon footprint as there is no need for paper, plastic cups or straws.
The entire dessert can be consumed except for a small paper sleeve for the cone.
Tan said the main market for the product will be QSRs such as McDonald’s, Jollibee, A&W and Marrybrown.
She said the product’s commercial potential attracted Malaysia’s early-stage start-up influencer, Cradle Fund, which had picked Carpe Ri for its ‘Coach and Grow Programme’.
Besides being eco-friendly, tasty and unique, Tan said the product could help reduce QSR’s frozen dessert costs by between 25 and 40 per cent.
“This is also where Cradle Fund sees our potential. We have the potential to grow into a US$100 million company within 10 years,” she said, adding that to-date, the company has spent RM350,000 of its own funds on research and development.
Carpe Ri has a patent pending for their halal ‘Float On Cone’, which gives them access to the global frozen dessert industry soon.
“We have registered with the Intellectual Property Corporation of Malaysia and will be extending our patent worldwide through the Patent Cooperation Treaty (PCT).
“We’ll be filing for PCT in three months,” she said, adding that the patent application process was made easier as they were guided by experienced international consultants.
On the production side, Tan said Carpe Ri has signed original equipment manufacturer (OEM) deals with regional ASEAN manufacturers, with no plans to build a factory as yet.
“We do not have any direct competition and plan to co-opt as well as work with all stakeholders in the industry.
“For example, for soft drink manufacturers, we’ll use their syrups (for the ice cream). So, it is a win-win situation for all as we share savings through the value chain,” she replied when asked about market competition.
Carpe Ri has been involved in the ice cream industry for four years, reaping the benefits of the recession-resistant business.
Taking advantage of a highly sought-after durian variety, the Musang King, the company sells Musang King ice cream to the Hong Kong market, which is the most expensive variety over there.
“The frozen dessert business is recession proof and worth about US$100 billion annually, with QSRs and convenience stores accounting for 20 per cent of that market,” Tan concluded optimistically.