Vegan Meat Brand THIS Receives £20m In Funding

Plant-based meat brand THIS has just received £20m (USD $25m) in funding from sustainable investment platform Planet First Partners. 

Read more: Most Plant-Based Eaters Want Vegan Food Kept Away From Meat, Poll Finds

The UK-based company specializes in vegan alternatives to chicken, beef, and pork. Its products are available in supermarkets across the UK, including Tesco, Sainsbury’s, and Asda, and it was named the country’s fastest growing food brand last year. 

“Our partnership will be key as we continue to lead a revolution through our plant-based food to protect animals and the environment, growing brand love to become market leaders in the UK,” said THIS CEO Mark Cuddigan in a statement.

The new £20m means that THIS has raised a total of £35m since it launched in 2019. As well as Planet First Partners, other previous investors include BGF, Five Seasons Ventures, and Seedcamp. Last year, ITV invested £4 million in the company, enabling THIS to advertise across its TV channels and online platforms. 

Read more: Prague Gets ‘First Ever’ Vegan Butcher’s As Demand For Meat-Free Food Grows

THIS expands

THIS has said that it will use the new funding to “accelerate growth” in the UK. As part of this growth, it will be launching new products. Some of its most popular offerings include its mince, lamb kebabs, and chicken pieces. The company recently collaborated with ex-footballer John Barnes to release a football music track and video urging people to choose THIS products for their summer BBQs. 

THIS has previously estimated that it’s saved more than a million animals from the food chain. To reach this conclusion, the company compared protein yielded per animal to sales of THIS products.

As well as being better for animals, THIS products are also significantly more environmentally friendly, producing far less emissions than beef, lamb, chicken, and pork.

Read more: Dutch Supermarket Reveals 44% Of Proteins Sold Last Year Were Plant-Based