Ready-to-eat vegan meal delivery service bags £7.5m Series A funding

allplants, a plant-based meal delivery company, has raised £7.5m in Series A funding, led by Octopus Ventures - early backers of Graze, Secret Escapes and Zoopla.

Existing investor, Felix Capital - the venture fund behind Goop, FarFetch and Deliveroo - has also doubled its seed round investment, to underpin what is said to be the UK’s largest Series A funding round for a vegan company.

Alongside Otiva, a Swedish private venture fund, partners at VerlInvest, the VCs behind CPG brands such as Popchips, Vita Coco and Vitamin Water, are also joining the raise as individuals.

David Milner; ex-CEO of Tyrells; Simon Nixon, founder of MoneySupermarket.com, and Jack Harries - a sustainability YouTuber - also join the round.

allplants’ delivery service aims to make consumers eat more vegan produce through its chef-made meals delivered to your door.

Jonathan Petrides, co-Founder of allplants, said: “The plant-based movement has become mainstream and is growing fast.

“Today, each evening, an allplants meal is enjoyed every 15 seconds. Most allplants customers aren’t veggie or vegan, they’re curious and hunting for convenient, healthy ways to boost their busy lives.

“This investment well help us fuel the plant-based movement forward. Our delicious chef-made meals, help them nurture a positive relationship with their health and the health of our planet without compromise.

“We’re excited to build a home for plant-based living in the UK and continue sharing our food with the world, to inspire the next billion plant-powered people.”

Founded in 2017 by brothers Jonathan and Alex Petrides, allplants has served over 250,000 meals nationwide to plant-inspired foodies and built a movement with over 70,000 online fans.

Within the next year, allplants will aim to offer a broader range of ready-to-eat food, accelerating the growth of its community, building its team, and expanding the capacity of their production kitchen, which will operate off renewable and waste-created energy.

Will Gibbs, of Octopus Ventures, added: “JP and Alex re-set the bar for the level of ambition and energy expected for mission-led founders.

“Allplants has the potential to build a brand in a really meaningful market and the sheer number of evangelising customers today is a reflection of this already. Across our team we have a large number of allplants converts!

“The team have already attracted some amazing employees and investors, and we look forward to helping them build a category defining business.”

The team of 40, based in North London, have now raised a total of £8.3m, with Octopus Ventures joining an impressive list of seed and angel investors including Felix Capital, and the founders of Bulb, Propercorn and Lola’s Cupcakes.

The announcement follows allplants securing £800k of investment in May 2017, the largest seed-round raised by a European plant-based business.

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