Vegan Company Closes Historic $1 Million Capital Round
UK’s vegan meal delivery service AllPlants closes the biggest venture capital investment ever raised by a plant-based company.
May 16, 2017
UK-based vegan meal delivery company AllPlants recently closed a venture capital round of £800,000 ($1 million)—the biggest investment of its kind in Europe—led by a collection of food entrepreneurs, social impact investors, and venture fund Felix Capital (the first time the fund made a plant-based investment). Vegan brothers Alex and Jonathan (“JP”) Petrides launched the company in January with the hope of bringing healthy, sustainable, and ethically sound vegan food to doorsteps across London. AllPlants has since served 10,000 frozen meals—such as Black Bean Chili, Jerk Jackfruit, and Cashew Mac—across the UK. With the investment, Alex Petrides tells VegNews that the company plans to build its team, expand online product offerings, and negotiate contracts with major UK food retailers. “Plant-based eating is erupting in Europe, which is awesome news for us vegans,” Alex Petrides says. “More investment in the space means not only that there will be even more food options at every restaurant and in every store, but that people are waking up to the future of food.” This year, competing UK supermarket chains Sainsbury’s and Tesco both launched vegan cheese lines, indicating that retail interest in plant-based food is beginning to align with growing consumer demand.