©Allplants
Plant-based meal delivery company Allplants has secured £3.4 million in funding, marking the UK’s largest vegan crowdfunding round.
The seed funding round, which took place on investment platform Seedrs, had an initial target of £2 million which was met after just 48 hours.
Allplants then raised another £1.4 million welcoming a total of 1,824 investors onboard including venture capital firms Octopus Ventures, Seek Ventures and Felix Capital, the venture fund behind GOOP and Deliveroo.
Following a survey by Allplants, amongst these investors, 76% said they were not vegan. Allplants believes this indicates the growing interest of investing in plant-based companies as it moves into the mainstream market.
Founded in 2017, Allplants is an online platform and chef-to-customer service. The company has recently celebrated serving one million vegan meals to households across the UK including Fiery Jerk Jackfruit and Cauli Tikka Masala.
Allplants will use the funding to develop new food categories and serve over 60,000 meals a week from its newly-opened 20,000 square-foot production kitchen in London.
According to Allplants, 73% of its investors believe there is a lack of healthy and nutritious plant-based meals available in the UK and 75% said one of the reasons they invested was to support sustainable businesses which benefit the planet.
Jonathan Petrides, founder and CEO of Allplants, said: “We’re delighted with the huge support and belief our community has shown in this crowdfunding round. It’s surpassed our expectations and allows us to look ahead at 2020 with even bolder growth plans.
“It’s an honour to now have more than 1,800 new investors behind every step we take, and demonstrates the rapidly growing demand for healthy and delicious plant-based meals made convenient. This latest funding round is a true validation of what we’re doing here at Allplants – to inspire more people to eat more plants.”
The initial funding round precedes a bigger institutional Series B round planned for the end of the year.
By 2025, Allplants aim to develop distribution partnerships and launch in new markets in Europe and North America.
Last year, the company installed several self-checkout freezers as part of a new trial in the UK, providing a platform which offers plant-based meals to customers in an “innovative new format”.
© FoodBev Media Ltd 2024