UK vegan meat brand Meatless Farm is celebrating a hiking £2.7 million investment since opening up funding opportunities to customers.
Moreover, the renowned plant-based firm hit its target within just six hours and has extended the campaign to capitalize on demand.
And, Tour de France star Mark Cavendish is among them.
Last month, Meatless Farm opened investment to consumers starting at just £10. This was in order to expand the company’s supply chain, from new production facilities to hiring more staff.
Additionally, the company said it will use the funds to add pizza toppings. vegan chicken and meatless meatballs to its collection.
Following the launch, Meatless Farm smashed through its initial £2 million targets within hours.
There are now more than 2,700 investors from the campaign alone.
Multi-million funding boost
The brand’s founder Morten Toft Bech released a statement in response. He said: “It’s our consumers who are central to Meatless Farm and its success to date.
“So, it’s great to see so many value the importance and opportunity for plant-based food and join us as investors too.
“We’ve achieved a lot over the last three years but we know that really big change is only possible when we all work together.
“This funding will help drive both Meatless Farm and the category forward, all of which helps advance progress towards our ambition of a truly sustainable global food system that is good for the planet as well as people.”
Mark Cavendish investment
Among the initial investors is professional cyclist Mark Cavendish.
Whilst he remains flexitarian, the athlete is embracing more plant-based foods and has been working closely with the brand this year.
‘We all need to be doing our bit to help the environment and reducing how much meat we eat is a key part of that.
‘It’s great to find a way to do this without having to compromise on nutrition or taste. I genuinely believe that eating in this way is the future for us all which is why I was so keen to invest in Meatless Farm when given the opportunity’, he said.
The brand’s latest investment from consumers adds to the £38 million already totaled from private and family office investors. Channel 4’s Commercial Growth Fund is just one of them.