Healthy noodle start-up Mr Lee’s secures £1.75m in funding

Healthy instant noodles brand Mr Lee’s Pure Foods has raised £1.75 million in its latest funding round on equity crowdfunding platform Seedrs.

The UK-based start-up has created a ‘guilt-free version’ of instant noodles, which it says is one of the lowest in calories, saturated fats and salt on the market.

Mr Lee’s latest financing round, which brings the brand’s total capital raised on Seedrs to £6.5 million, is continuing into ‘overfunding’ after the target of £1.75 million was reached in five days.

The round has so far received participation from around 220 investors, including Henry Soesanto, CEO of Philippine-headquartered Monde Nissin Corporation.

According to Mr Lee’s, the funds will be used to drive its international growth, following the brand’s launch in the US earlier this month, and also to develop its e-commerce offering.

Mr Lee’s says it has experienced a huge surge in demand during the Covid-19 pandemic.  E-commerce revenue has reportedly increased by 918% and new users to the brand’s website by 924%, for the period 20 March to 20 April 2020, compared to 17 February to 19 March.

“We are delighted by the huge support we’ve experienced so far in this funding round,” said Damien Lee, founder and CEO of Mr Lee’s Pure Foods.

“It demonstrates that now, more than ever, there’s a clear demand for convenient, healthy and delicious noodles. We look forward to welcoming our new investors on our journey into our next exciting phase of growth.”