AllPlants raises £2m ahead of Series B funding round

AllPlants – a plant-based meal delivery company and subscription service – has raised £2 million in 48 hours during a funding round on investment platform, Seedrs.

The London company, which delivers frozen chef-cooked meals around the UK, is undertaking a larger institutional Series B funding round later this year as it looks to tap into the growing demand for vegan and plant-based food options. 

The Seedrs funding comes largely from its own customers, but also from more established investment groups. AllPlants’ investors to date include venture capital firms, Octopus Ventures, Felix Capital, and Seek Ventures, and the founders of JustGiving and Bulb Energy. 

Since the company’s launch in 2016, it has served almost one million meals, but the funding is for accelerating its growth in the UK, and taking the proposition internationally. Over the next 12 months, the investment will be used to develop new food categories, and by 2025 the aim is to develop distribution partnerships, launch in leading UK retail stores, and open up to new markets in Europe and North America.

In an interview with Essential Retail at the start of the year, Chloe Watt, marketing partner at AllPlants, said the business was “gearing up to serve and power the next billion people to go plant based – that’s our mission”.

Last year, AllPlants completed the refurbishment of its headquarter kitchen facilities in Walthamstow, North London, which also has accompanying office space. The latest round of funding comes after it raised £7.5 million in 2018 through a Series A funding round, led by Octopus Ventures.

Commenting on the latest fundraising, Jonathan Petrides, founder and CEO of AllPlants, said: “We have always wanted to bring our customers and community onboard as we continue to make plant-based living the future.

“Our customers are involved in everything we do, from helping us develop new recipes, to tasting new dishes and returning their packaging for re-use, this was always the natural next step and something we intended to launch from day one.”

Will Gibbs, investment manager at Octopus Ventures, added: “AllPlants has the potential to build a global brand that accelerates the planet to eating more plants – the customer love, feedback and evangelical praise is testament to the sheer level of quality and energy in this mission-led company.”