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Allplants scoops $52M to deliver more plant-based microwave meals – TechCrunch

Vegan Meal Delivery Startup Allplants With Series B funding led by Draper Esprit, it has raised £ 38m to provide UK consumers with a more delicious plant-based home meal directly.

This round has been touted by European plant-based food companies as the largest Series B to date.

Previously, a London-based startup raised $ 7.5 million in Series A (Back to 2018) — We will also raise funds through the equity crowdfunding platform Seedrs.

Since its launch in 2017, revenue has more than doubled every year.

Other new investors in Allplants Series B include the purpose-driven consumer goods fund The Craftory, Silicon Valley-based TriplePoint Capital, international English soccer players Chris Smalling and Kieran Gibbs, and UK independent snacks. Includes Cassandra Stavrou MBE, the founder of the company ProperSnacks.

Existing investors Felix Capital (the VC behind oats, a milk replacer based on oats) and Octopus Ventures also participated.

In recent years, growing concerns about the climate impact of meat production have led to increased interest in plant-based alternatives throughout Western Europe.

Start-ups have direct consumer food delivery options like Allplants, Hula — And the latter type of product may end up as a dietary ingredient in Allplants.

Alplants recognizes its growth in the rapidly growing “plant-based”, semi-vegetarian consumer market. It is currently said to be worth £ 10 billion in the UK alone and £ 100 billion annually in developed markets.And the only startup is in the UK, but for now that Website It is aiming for globalization.

The new fund says it will be able to expand its plant-based kitchen in Walthamstow, north London, six times more than it is today to meet the burgeoning domestic demand.

Currently, we employ 140 chefs in the kitchen to prepare meals that are frozen and delivered to consumers for convenience. This means that it needs to be reheated before it can be consumed in the oven or microwave, just like a traditional microwave meal.

The current range of dishes covers breakfast, lunch, snacks, snacks and dinners, with startups ranging from curry and chiris to pasta and risotto, and a wide variety of world dishes including vegan protein sources such as vegan cheese and tofu. Offers meat alternatives like tofu or vegan chorizo.

Customers choose from a selection of dishes for home delivery, choose a partial size for one or two people, and create six meal boxes.

There are also various bundles such as all / only “meat substitute” meals (for those who are accustomed to always putting chunks of meat on a plate) and “cheapest” dishes (using 100% vegan cheese). I sell it. — To accommodate different tastes.

Startup marketing points out that switching from a meat-based diet to a plant-based alternative is one of the most influential ways people can reduce their environmental footprint. This suggests that adding a plant-based diet one day a week will reduce the average UK consumer total. Annual food carbon dioxide emissions are over 10%.

Allplants says it plans to add Series B to build scalable capacity for rapid distribution to other channels. Therefore, it may be aimed at long-term multi-channel distribution including retail stores such as supermarkets.

This money will also be used to significantly expand the team. Startups will be hired throughout the business stack, from additional chefs trained in culinary schools to operations, innovation, marketing and technology.

Other plans for Series B include the development of a wider range of product categories, as well as further expansion of the dietary range to meet more tastes and preferences among the expanding customer base.

Jonathan Petrides, Founder and CEO of allplants, commented in a statement: “”Over the five years we have cooked, the demand for plant-based foods has exploded. There are many exciting plans to bring the movement to the kitchens of even more people. This investment makes exactly that possible. “

“Food choices are so personal that quality and taste are always our top priorities. This is all our driving force and our customers incorporate more plants into their diet without compromise. It makes things easier, “he added. “We can now imagine, create and deliver more delicious recipes and products, ultimately accelerating the transformational impact of plant-based life on the future of our planet. I can.”

Nicola McClafferty, a partner of Draper Esprit, said in a supporting statement: “”This is a very exciting investment for Draper Esprit. Allplants occupy a unique position at some of the fastest growing areas of food consumption today. A high quality plant-based diet that provides taste, sustainability and nutrition in an incredibly convenient way for consumers.

“JP and the team have established a great brand with very clear values, incredibly strong growth and a loyal customer base. Allplants is expanding into new channels both in the UK and abroad. It has real potential to expand its direct sales business. We believe it will be a global brand that brings nutrition, taste and convenience to consumers interested in plants, and we are pleased to support the growth and prosperity of our team. increase.”

Allplants scoops $52M to deliver more plant-based microwave meals – TechCrunch Source link Allplants scoops $52M to deliver more plant-based microwave meals – TechCrunch

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