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Veg Capital triples investment in Shicken

UK-based vegan ready meal brand Shicken has received a further £4m cash injection from Veg Capital to scale up manufacturing capacity and fuel overseas expansion. Shicken was founded by husband and wife Parm and Satvinder Bains, who established the company as a direct-to-consumer business during the Covid-19 lockdown in 2020. The brand aims to bring authentic Asian cuisine to the plant-based convenience food market, boasting a range of curries and kebabs that are crafted based on traditional recipes passed down by Satvinder’s grandmother. Its plant-based chicken is made with a blend of soya, wheat and pea protein, using a unique technology for a succulent chargrilled chicken-like texture. Veg Capital, founded by Veganuary campaign co-founder Matthew Glover, has now invested a total of £6 million in the brand. The investment will be used for further investment in scaling up manufacturing capacity at Shicken’s facility in Kent, UK. It will also accelerate expansion and distribution, with the brand projected to achieve five times its current growth following a launch in the US and listings across Costco UK, Iceland, Sweden and France. Commenting on the investment, Veg Capital’s Glover said: “The Shicken range is simply delicious, and their curries and kebabs are flying off the shelves – it was a no-brainer for Veg Capital to reinvest. We're excited to play our part in helping this family business go global over the coming years.” Co-founder at Shicken, Parm Bains, said: “It has been a phenomenal journey for Shicken so far and we’re incredibly excited to see business scale on an international level, both as a brand and as one of the UK’s few dedicated BRC-accredited specialist primary plant-based manufacturers”. He added: “This investment allows us to realise the ambitions for Shicken and to offer our proteins and develop recipes on a private label basis, where I can also leverage my 20 years’ experience within food manufacturing across the major retail and foodservice channels”. If you enjoyed this news, you might also like to listen to FoodBev Media platform The Plant Base's Veganuary Sessions podcast episodes with Shicken's Parm Bains and Veg Capital's Matthew Glover.

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