Vegan fried chick*n firm VFC Foods has raised £2.5 million in a seed funding round led by vegan investment fund Veg Capital.
Founded in December 2020, UK-based VFC produces a range of vegan alternatives to fried chicken, which are available to consumers in the UK and Spain.
As well as the investment from Veg Capital, VFC received additional funding from plant-based investment fund Johnson Resolutions, as well as the company’s senior leadership team.
The company claims that it will use the funding to scale up production and accelerate the growth of the brand both in the UK and internationally. The firm also announced that it is working on ‘version 2’ of its chick*n product, aiming to further improve the texture and flavour profile of its products.
VFC’s co-founder Matthew Glover – who also serves as the managing director of Veg Capital – will now serve as the CEO of VFC Foods, while the company’s other co-founder chef Adam Lyons will continue to oversee the company’s operations.
In a statement, Glover said: “Our ultimate mission is to end factory farming, and so we are focused on driving efficiencies through our business that will allow us to compete directly with chicken on price, taste and convenience. I couldn’t be more thrilled with how the well the launch phase has gone.”
VFC’s director of sales Stewart McGuckin added: “The launch phase has been phenomenally successful, with sales far exceeding our expectations, incredible food service and retail interest, as well as enquiries from more than 50 countries.
“All this has shown us two things: we have a brand and a product that people really love, and that we are ready to shift up a gear.”
© FoodBev Media Ltd 2022
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