Vegiano Funding Memo

Funding Memo Q4-2023 More Plants - More Power

15th. November 2023 | Oslo, Norway | christoffer@vegiano.com | www.vegiano.com

Private & Confidential - All rights reserved The Vegiano Group AS

The Vegiano Group AS Founded in September 2022 in Oslo, Norway Product beta launched in June 2023 Investments received to date total NOK 3m

About Vegiano Vegiano is a plant-based recipes app and food community that makes it simple to discover, share, and enjoy plant-forward cooking.

We exist to nurture a healthier world by connecting & empowering people with the inspiration, knowledge and tools they need, making healthy eating and sustainable living fun.

By utilizing web3 technology we are at the forefront, pioneering new ways to incentivize content creation, user engagement and food transparency.

“Vegiano is more than a platform, it's a movement towards healthy & sustainable eating”.

CEO & Founder Christoffer Bølla

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Table of Content The Appetizer I. Intro

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II. Executive Summary

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Hot Soup IV. The Problem

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V. Market Research

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VI. Competition

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Fresh Salad

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V. Vegiano's Proposition

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VI. Team

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VII. Advisors

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Main Course X. Go-To-Market-Product

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XI. Food Health

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XII. Revenue Models

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XIII. Creator Economy

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XIV. User Acquisition

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Sweet Dessert XV. Product Vision

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XVI. Financials & Milestones

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XVI. Links

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Executive Summary Introduction Vegiano is more than just a recipe app; it's a movement towards sustainable eating!

As the demand for plant-based diets surges, Vegiano aims to revolutionize the way we perceive and engage with a plant-based lifestyle.

Mission & Vision Connect and empower people with the inspiration, knowledge and tools they need to make healthy and sustainable plant-based eating fun.

To become the world’s foremost plant-based foods ecosystem, community and recipes library.

The Product

Vegiano is your all-in-one guide for a plant-based lifestyle.

The Leadership

Vegiano's diverse team combines expertise in sales, operations, finance, tech and marketing, ensuring the app's growth, innovation, and user-centric focus.

The Core Market

Targeting health enthusiasts and sustainable eaters in a $550M USD recipe app market growing at 13% CAGR, Vegiano stands poised to capture significant market share and innovate in a currently fragmented landscape.

The Competitors

Vegiano competes in a vibrant landscape with apps like FeelBetter.com, Whisk.com, Flavrs.com, KptnCook.com, ForkOverKnives.com, and Sulten.app, each offering unique features in the recipe domain.

The Technology

Secure blockchain backend for tamper-proof data storage. Modular Flutter frontend, ensuring a seamless user experience and easy updates across all devices.

UVP

Comprehensive ecosystem for plant-based recipes with a robust community, empowering users with tools and inspiration for enjoyable, sustainable living.

Fundraising Fundraise of 10 MNOK to enhance app development, amplify marketing & streamline operations, propelling Vegiano towards market leadership.

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GO-TO-MARKET Vegiano's go-to-market product revolves around a unique proposition: A video-driven social feed combined with an expansive, growing recipes library designed specifically for the plant-based food community.

This application is not merely a recipe repository; it's a lifestyle tool, an educational platform, and a social community designed to support and inspire users to explore and enjoy vegetarian and plantbased cuisine.

EARLY ADOPTERS Gen-Z and Late-Millennials that already engage with plant-forward lifestyle content.

Our first goal is to deliver compelling utility to these users, where our top-line metrics are product stickiness: measured by engagement, retention and user referrals.

REVENUE STREAMS Our platform introduces diverse revenue streams, spanning from premium subscription services, to advertising and partnership opportunities.

This multifaceted approach ensures a stable and scalable economic model, catering to a wide array of users and partners.

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The Problem Status Quo and Its Underlying Problem While interest in plant-based diets is growing globally due to environmental, ethical, and personal health concerns, many individuals face significant barriers when trying to incorporate these diets into their daily lives.

Challenges often include a lack of knowledge about plantbased foods, difficulty finding or making delicious recipes, access to or support from a community of peers, and barriers around simplifying a change in personal behavioral patterns.

Furthermore, the current market landscape is fragmented.

People often need to navigate multiple platforms, blogs, cookbooks, and social media channels to find plant-based recipes, nutritional advice, cooking tips, and a community of like-minded individuals.

This fragmentation makes the transition to a plant-based diet seem more complex than it actually is. This fragmentation presents an ineffective user experience that impedes change.

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Environmental Impact Our dietary choices, especially non-sustainable diets, have significant environmental consequences, affecting planetary health.

Resource Gap While many wish to adopt plant-based diets, there's a clear lack of practical, engaging, and appetizing resources to guide them.

Fragmented Information The market is filled with disjointed solutions, forcing users to navigate multiple platforms for comprehensive plant-based information.

Engagement Issues Existing platforms promoting sustainable eating often lack the interactive elements that modern users desire, leading to decreased motivation and commitment.

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Market Research Market Overview The global plant-based food market is experiencing robust growth and is expected to continue its upward trajectory over the next several years.

It is driven by factors like environmental concerns, increased awareness of health and wellness, and improvements in taste and texture of plant-based foods, more consumers than ever are choosing plant-based alternatives.

Global Market Growth The global market size for plant-based food reached $42,2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.94% from 2022 to 2028, according to “The Global Plant-Based Food Market Outlook 2023-2030”.

By 2028, it's projected to be worth approximately $132.2 billion.

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Consumer Behavior and Trends A growing number of consumers are adopting "flexitarian" diets, and reducing meat consumption without fully committing to a vegetarian or vegan lifestyle. This trend indicates a broadening consumer base for plant-based products beyond just those who identify as vegetarian or vegan.

Furthermore, advancements in food technology are leading to the creation of plant-based products that mimic the taste and texture of their animal-based counterparts, which is a significant factor in attracting consumers to try and continue using these products.

Recipes App Market According to the “Recipe Apps Market by End-user, Product type and Geography - Forecast and Analysis 2023-2027" The global recipe apps market was valued at $551.68 million in 2022 and is estimated to grow to $1,025.87 million in 2027, with a CAGR of 13.21% The segment share between Free and Paid recipe users is; 72.22% Freemium user vs 27.78 % Premium paid users.

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Competition Vegiano stands out in the competitive food lifestyle space by focusing on the full journey from user curiosity to long-term retention.

We excel where others haven't—integrating knowledge, utility, and community to meet and exceed the evolving demands of our users.

Unlike competitors, we're committed to embodying the future of engagement with cutting-edge technologies like blockchain and AI, setting the stage to transform into a unicorn food ecosystem.

Currently, our rivals may lead in distribution, but Vegiano is poised to redefine the industry with our comprehensive approach to value delivery and user experience.

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Vegiano's Proposition Vegiano is positioning itself to bridge the gap between the rising consumer demand for plantbased diets and the need for a comprehensive, user-friendly platform that simplifies and enhances the experience of plant-based cooking.

It is designed to make the transition to a plant-based lifestyle seamless and enjoyable.

It addresses the lack of knowledge and perceived complexity by providing a comprehensive plantbased platform and growing ecosystem.

Interactive Recipes A diverse range of curated recipes from renowned chefs and nutritionists, enhanced with step-by-step guides and videos for an engaging cooking experience.

Streamlined Meal Planning Users can select pre-made meal plans or create their own.

Vegiano will generate a tailored shopping list, optimizing grocery trips and minimizing food waste.

Community Support A platform where users can connect, share their culinary experiences, challenges, and successes, ensuring a supportive environment for all members.

Health Tech Plant-based diets have many well-documented health benefits and can help solve today’s most important public health challenges such as cardiovascular disease, type two diabetes, obesity and several types of cancer.

Vegiano aims to develop a comprehensive tool to enhance dietary habits and promote a healthier lifestyle with increased life expectancy (LE), utilizing data gathered by Food4HealthyLife (F4HL)

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Creator Economy Vegiano provides creators the ability to monetize their content and engage with a community of plant-based enthusiasts.

They can share unique recipes, culinary tips, and personalized content. Establish a strong following, drive engagement, and unlock new revenue streams.

Disruptive Technology Our platform utilizes blockchain technology to secure user interactions, transaction records, and content data. Bolstering Vegiano's features like authentication, revenue distribution, and rewards tracking for a reliable digital experience.

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Team Vegiano International mix of entrepreneurs, tech experts & food lovers.

Christoffer Bølla

Matias H. Groth

Andreas Limoli

Chief Executive Officer

Chief Operating Officer

Cheif Technology Officer

Serial Entrepreneur and former Sales Director Verisure. Christoffer's strategic vision guides Vegiano's trajectory and growth.

Leveraging his background in army operations and web3 entrepreneurship, Matias ensures efficient and optimized daily operations at Vegiano.

Gabrielle Hall

Margaux Hequet

Matteo Perillo

Head of Brand & Design

Head of content

Intern - Data Scientist & PHD Student

With her design and copywriting prowess, Gabrielle drives Vegiano's branding and marketing efforts, ensuring strong user engagement.

Former Siemens supply chain manager, turned food photographer, recipe creator & food stylist, with passion for video content and social media.

PhD Student in Biomedical and Neuromotor Sciences, University of Bologna.

A skilled software engineer, Andreas spearheads Vegiano's technological advancements, ensuring the app remains innovative and user-centric.

Research on statistical and machine learning methodologies for the identification and quantification of risk and protective factors related to food & lifestyle.

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Advisors Serial Entrepreneurs, Web3, Science/Research & Food Health

Roar Skogvoll

Stephan Nilsson

Lars T. Fadnes

Finance & Operations Advisors

Web3 Advisor

Science & Research

Serial Entrepreneur Former EVP Finance - Capgemini.

Blockchain Entrepreneur CEO Unisot

Finance, Risk Management, Business Control, IT, Human Resources.

Board of Directors Oslo Blockchain Cluster

MD, PhD, DTM&H Professor at the Department of Global Public Health and Primary Care, University of Bergen, and research group leader at Haukeland University Hospital Co-Creator of www.food4healthylife.org Estimating impact of food choices on life expectancy: A modeling study.

Mat For Helsen

Yves Vacheresse

Medical & Nutrition Association

Gut Health

Mat For Helsen (Food for Health) is an association for nutrition specialists, doctors and other health personnel.They work to promote better health by spreading knowledge about the benefits of eating more plants and less meat.

Private Chef Former Executive Chef at MoMA and MET Museum New York Previously private Chef for Diana Ross, Jim Carrey & Cher.

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Vegiano proudly covers 9 of the 17 UN Sustainable Goals

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Go-To-Market Product Vegiano's go-to-market product revolves around a unique proposition: A video-driven social feed combined with an expansive, growing recipes library designed specifically for the plant-based food community. It's a lifestyle tool, an educational platform, and a social community designed to support and inspire users to explore and enjoy vegetarian and plant-based cuisine.

Video-Driven Social Feed Our video-driven social feed allows users to explore, share, and save an array of high-quality, easy-to-follow video recipes created by influencers, chefs, and passionate home cooks.

This visually compelling feature taps into the growing trend of culinary content consumption on social media platforms and makes discovering new recipes engaging and fun.

Recipes Library It is a curated source of inspiration, offering everything from quick weekday meals to exquisite dishes for special occasions.

The library caters to a variety of dietary needs & preferences, making it a comprehensive tool for anyone looking to explore or deepen their engagement with plant-based cuisine.

Community Building Vegiano is not just a tool, but a vibrant community of food lovers, home cooks, and professional chefs. Users can follow their favorite recipe creators, share their culinary successes and challenges, and engage in discussions about plant-based food and cooking.

Personalized Experience Personalized recommendations based on users' dietary preferences, cooking habits, and favorite ingredients. This feature ensures that our platform continues to learn and grow with our users, making meal planning and discovery a tailored, user-centric experience.

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Food Health Vegiano aims to develop a comprehensive tool to enhance dietary habits and promote a healthier lifestyle with increased life expectancy (LE), utilizing data gathered by Food4HealthyLife (F4HL).

F4HL has created an innovative calculator that assesses the impact of diet on LE; - Estimating impact of food choices on life expectancy* Our strategy is to leverage and integrate this calculator, alongside data analytics, to personalize user experiences based on their current eating patterns and the outcomes from adopting Vegiano's Equalizer Diet.

We envision a user-friendly platform where individuals can record their meals in a digital diary, enabling us to monitor progress and improvements through user feedback over time.

Our extensive library includes a variety of ingredients complete with macro and micro-nutrient profiles, as well as phytonutrients. We are creating an AI-driven solution that, based on scientific research, user preferences, allergies, and available ingredients, will generate tailored meal plans for each user.

BLOCKCHAIN

NUTRIENTS

USERDATA

Vegiano Smart Eating

AI

F4HL

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Revenue Models User Profiles & Premium Content As our community grows and feature sets mature, Vegiano plans to introduce a single tier paid subscription providing access to product utility beyond what is available in competitor offerings.

Users can explore the "reels" feature for recipe discovery without the need for an account.

This approach allows users to get a feel for the app's offerings and can serve as a teaser to entice them to sign up for the premium version.

Vegiano+ Subscription For a subscription fee of 99 NOK per month, users can unlock all of Vegiano's features, providing a comprehensive plant-based recipe and community experience.

Community Subscriptions Community subs are well established from the likes of Twitch (streaming, gaming) and Patreon (content creators) and are a mode of monetization that enable creators on Vegiano to monetize their follower base through subscriber exclusive content, where Vegiano as a market maker has a percentage take on monthly subscriber revenue.

Weekly Challenges These challenges provides users with a condensed, immersive experience, offering exclusive content, meal plan challenges, educational challenges and resources over seven days for a set cost.

This feature enhances user engagement and offers a comprehensive journey through various aspects of plant-based living.

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Marketplace - Sponsorship & Brand Awareness - The next era of (food) influencer marketing!

As Vegiano's user base grows, it becomes an attractive platform for advertisers, and provides a unique marketing channel for plant-based products and brands.

Brands can create their own Vegiano profile, showcasing products, product recipes and more.

Vegiano will have a refreshing and interactive way to showcase products, and with a unique opportunity to reach an actively engaged audience with interactive airplay.

Products

Sponsored Content

There are two modes of product revenue we consider based on our go-to-market.

We plan to expand brand and creator monetization beyond community subscriptions, to allow product promotions and services in a designated product marketplace.

First is our direct to order integrations with grocery delivery providers represent a medium revenue opportunity with higher volume yet lower margins.

Secondly, the ability to order pre-made meals form food providers or nearby restaurants.

This final ecosystem expansion represents both novel user value and revenue opportunities for Vegiano that go beyond standard models of monetizing community.

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Creator Economy Vegiano is evolving the creator economy with web3 technology.

By utilizing the blockchain, Vegiano ensures a seamless and transparent backend operation.

While the end-users might not be explicitly aware of the blockchain's involvement, its benefits will be inherently realized in the platform's functionality.

User ID System Blockchain-backed wallet system for user identification.

Each user will have a unique identifier, which will serve as their primary ID on the platform.

This ensures a secure and tamper-proof method for user authentication without necessarily revealing the complexities of blockchain to the user.

Objective: To craft a decentralized digital identity system for users and content creators, fostering transparent interactions.

Benefit: Safeguard user data, ensure encrypted transactions, and promote trust within the Vegiano ecosystem.

Food Influencers - A Strategical Growth & Distribution Channel Food influencers, plant-based groups and brands can apply to upload their own recipes to Vegiano.

Tokenised recipes gives the user full ownership and the ability to monetise their content inside the Vegiano ecosystem. The blockchain will transparently and securely track the performance metrics of each recipe.

Creators are rewarded with a royalty every time their recipe is made. Similar to how artist are getting payed on a music streamer when their song is being played.

This incentives users to share their Vegiano profile and recipes in other social media channels.

With this Vegiano is combining an extremely scalable distribution channel with low to zero cost.

Uploads Recipe

Tokenised Recipes Each recipe is treated as a distinct data point on the blockchain.

This ensures that the recipe's data, such as “plays”, likes, comments, shares, views, etc is securely and transparently stored, providing a tamper-proof record of user interactions.

Food Influencer

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Makes Recipe

Users

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Creator Communities Communities within Vegiano will serve as hubs for fans, followers, and like-minded individuals.

The blockchain will manage and verify the subscription status of each member within these communities, ensuring a transparent and tamper-proof record of community memberships.

Objective: To offer a dedicated platform where users, influencers, and chefs can create or join specific communities based on dietary interests, culinary techniques, and shared food philosophies.

Benefit: Provides creators a mechanism to monetize unique content, meal plans, and dietary regimes, while fostering an environment for like-minded users to connect, share, and learn, thus enriching the overall Vegiano user experience.

Vegiano Rewards System Streamlines the user's journey from recipe discovery to meal preparation, provides an avenue for products, and further incentivizes engagement through a reward-based shopping experience, where users can redeem their VegiPoints.

This ensures that each reward is genuine, and its distribution is transparent and based on verifiable interactions and in-app purchases.

Objective: Encourage user engagement through the rewarding of 'Vegi points' for various app-related activities.

Benefit: Enhance user retention, promote content creation, and drive daily active users.

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User Acquisition The user acquisition strategy for Vegiano is built upon the power of community, influencer marketing and strategic partnerships. To drive growth and create a strong, engaged community of users.

Creators and Food Influencers Our core acquisition strategy involves partnering with influencers and creators in the plant-food and health industry.

The partnership will involve influencers contributing their unique recipes, promoting Vegiano on their platforms, and creating exclusive content for Vegiano users.

Some Influencer Marketing Stats in the Food Industry 6% 10%

2%

Influence 26%

12%

Followers Engagement*

ADVOCATE

0-5K

8%

MICRO

5K-25K

4.0%

SMALL

25K-100K

2.4%

MEDIUM

100K-250K

1.8%

LARGE

250K-1M

1.8%

MEGA

1M-7M

1.6%

CELEBRITY

7M+

1.6%

23% 21%

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Food Influencer marketing has a 10x higher ROI than traditional advertising.

Leveraging Existing Communities

Product Partnerships

Vegiano will tap into the existing communities of plant-based and health-conscious consumers across various digital channels such as social media, blogs, forums, and other platforms.

Vegiano plans to work with grocery delivery services to create an integrated solution for its users, making the transition to a plantbased lifestyle even more seamless.

The plan is to engage with these communities by providing value through informative and entertaining content, and offering incentives for joining Vegiano.

By connecting meal planning and grocery shopping, Vegiano can provide a valuable service that goes beyond just providing recipes and builds user loyalty.

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How To Get 100K Users Prep: 9 months of development Cook: 150 days

Ingredients Handfull of Top Scandinavian Food Influencers.

Cup of Local brands.

Pack of Facebook Groups.

Secret Sauce Micro Influencer Agency DreamInfluence.com

Method - Pre make 30 easy-to-cook video recipes to be distributed on the mvp.

- Follow the below steps.

Step

Start with Scandinavian Food Influencers

- Reach out to top 10 plant-based/food influencers in each country.

- Showcase creator economy and give early access for recipe uploading.

- Discuss partnership for exclusive content and ambassadors role.

Step

Onboard Local Brands

- Invite local brands to physical/digital Vegiano Brand Day. - Showcase Marketplace and Influencer Economy.

- Give early access and partnership deal.

Step

Create the DreamInfluence Campaign

DreamInfluence is a micro influencer agency with more than 1000 influencers in the food and health industry. With between 5K-100K followers each on Instagram and TikTok. Our strategy is launch a special promo campaign for Vegiano+, with a kickback royalty to the influencer.

Step

Launch September 2024

We will launch Vegiano with Step 1, Step 2 and Step 3.

Post launch we will do Step 5.

Step

Plant-Based Facebook Groups

There is 100s of plant-based recipe and chef/cooking groups.

After launch we will contact the group admins, and give them an affiliate and user acquisition partnership deal.

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Product Vision Transforming Consumer Tech Vegiano is redefining consumer tech with its integrated platform, combining community engagement, influencer content, and seamless recipe-to-shopping experiences.

We’re introducing innovative revenue models and blockchain integrations, alongside an AI-powered nutritionist and meal planner, rooted in our Food4HealthyLife partnership.

Expanding our plant-based ecosystem, we focus on e-commerce functionalities and extensive brand partnerships, ensuring a comprehensive and user-centric experience.

2024

2025

2026

Core & Community

SoFi & Smart Eating

Marketplace Ecosystem

Vegiano core product, community & influencer video feed, recipes library, & shopping integrations; Vegiano+ subscription, Challenges and Community subscription

New modes of incentivization, engagement & value sharing, expanding community subs, SoFi & blockchain integration.

Plant-based ecosystem growth through brand & product marketplace, expanded partnerships scope & focus on building ecommerce functionality.

AI-driven nutritionist, food coach & meal planner based on Food4HealthyLife research data & partnership.

Core & Community The Vegiano core product aims to create a unified experience to help users discover, learn and cook plant-based meals in their daily lives, and with a feature focus on engagement and retention driven by practical utility.

Our product combines the best of functionality and features from the competitive landscape: video-first, food influencers and creators, valuable recipes and tutorials, and simple recipe organization, ingredients lists and grocery delivery integrations.

The unique combination of these features has already been demonstrated as investment-worthy and monetizable even when of limited functionality in other products.

With our unique focus on plant-based cooking, we are able to further differentiate our product and more clearly communicate and deliver value to our growing user community.

Our final focus in this stage will be to create a compelling user experience around specific subcommunities within the segment, supplanting the need to use multiple channels (ex: blogs + facebook) to realize the same value, all while providing additional utility and practical access to resources to users from day one.

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SoFi & Smart Eating Our vision is to pioneer the application of new modes of engagement, incentivization and value sharing in the Vegiano ecosystem. To do this, we plan the implementation of best-practice Social Finance (SoFi) and application of AI to make plant-based eating the preferred diet.

Building upon our community subscriptions, we will use SoFi and non-speculative blockchain tokenization to monetize and reward both creators and users on our platform, which will in turn lay the foundation to turn Vegiano into a true plant-based marketplace ecosystem.

Furthermore, we will use applications of AI and cutting edge nutritional data to provide customized recipe guides and meal plans, as well as a nutritionist smart-assistant, to support users in both their plant-based journey as well as simplifying their day to day lives.

While these are medium-term (2025) product objectives, we are already laying the groundwork today, and may accelerate aspects of implementation depending on subsequent grants, partnerships and funding opportunities in later venture rounds.

Marketplace Ecosystem Looking ahead, we see the confluence of our creator and user-generated communities, SoFi and blockchain incentivization, and tie-ins with affiliate partners and grocery delivery as a foundation to our ability to transform into a true marketplace ecosystem for all things plant-based food, with the ability to then further monetize transactionality within said ecosystem.

Products, services, knowledge, tools and engagement across our features, products and services, as well as those provided by creators and external partners, represent a big picture vision and massive opportunity for the company, its investors and the planet.

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Financials & Milestones Capital Requirements Vegiano is currently raising 10 MNOK from investors and partners.

The funds will be used to finalize our video feed recipes library functionality, Vegiano+ Subscription, Creator Economy and implement our Blockchain Strategy.

Milestones Our milestones within first 9 months are to launch the v1 product and finalize a partnership agreement with the first grocery delivery provider. The business will focus on food influencer engagement as a core component of our recipes content and user acquisition strategies.

Our goal is to onboard 5 of the top Nordic food influencers (with ca. 1M followers), to each contribute and promote >4 video recipes from their existing library and >2 video recipes unique to Vegiano per month.

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Links Global Market Growth https://marketresearchguru.com/global-plant-based-food-industry-researchreport-2023-competitive-landscape-market-22376448 https://www.linkedin.com/pulse/plant-based-food-market-2023-2030-highlighting/ Recipe Apps Market https://drive.google.com/drive/folders/1RdO8wh2pmyTYqIguPhTUOf3dqvvg5zmG? usp=sharing Food Health http://food4healthylife.org/ https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1003889 Food Influencers https://www.legacymarketing.com/blog/influencer-marketing-food-industry/

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Thank You! More Plants - More Power

15th. November 2023 | Oslo, Norway | christoffer@vegiano.com | www.vegiano.com

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