Capital to support plant-based fried chicken brand’s expansion into the US as UK demand has rocketed
UK plant-based chicken maker VFC has closed a £7.5 million Seed round led by co-founder Matthew Glover’s VC fund Veg Capital.
Glover is managing director at the investment vehicle which also supported VFC’s £3 million Pre-Seed round last year.
The company, which stocks its products in Tesco, is seeking to expand into the US via retailer deals it is currently in talk over.
“Expansion within the UK has been phenomenal, and we are also seeing strong international demand, particularly from the US,” VFC commercial director Stewart McGuckin said.
“There has been huge interest from investors and we’re very grateful for that,” Glover said.
“By working with Veg Capital we’ve been able to focus purely on scaling the business as fast as possible to take advantage of the opportunity.”
Capital will also be re-invested into growing the team and ramping up R&D.
The round bring VFC’s total funding to £10.5 million. It will likely launch a Series A in 2023.
Veg Capital was launched in June 2020 with a focus on companies developing innovative plant-based and cultivated replacements to animal products
Date published: 19 January 2022