Vegan meat brand Jack & Bry has secured £1.25 million in its latest funding round.
The company creates meat-free alternatives to burgers, mince, and sausages using jackfruit.
Its flagship pepperoni is available in more than 100 Zizzi outlets and 450 Papa John’s stores in the UK and Netherlands.
Now, it aims to use the financing round to expand its retail presence.
Bryony Tinn-Disbury is the founder of Jack & Bry. In a statement sent to PBN, she said: “We know consumers are seeking out meat alternatives in ever greater numbers. But, they’re also seeking higher quality in the plant-based foods they buy.
“Key to that is an authentic recreation of taste and texture. And, we’re proud to have developed a full retail range of branded jackfruit products to mimic all the meats to satisfy that demand.”
“Our ambition is to launch with another major supermarket in 2021 to help meet the booming demand.
“We predict the Veganuary effect will last throughout the whole year, not just January. And, backed by our new investors and non-executive directors, we’re excited for the next stage of the journey.”
Vegan meat market
The vegan meat market is set to face its ‘biggest growth to date’ – according to data from Markets and Markets.
Last year, the firm published a report which estimates the global market for plant-based meat alternatives will grow to $8.3 billion by 2025.
The report cites ‘growing vegan and flexitarian populations. It also says increased awareness of the ‘health benefits offered by plant-based meat over animal meat’ is another reason for the growth.
Moreover, it argues government initiatives and ‘significant investment’ will be key drivers for the plant-based market.
The round was led by SFC Capital, with other backers including KM Capital, Rubix Ventures, and a number of high net worth private investors.