Plant-based holding company Kale United has pledged to consign animal agriculture practices to the history books following a successful funding round.
The round, which launched on April 1, raised €350,000 and was fully subscribed by the next day, attracted more than 100 public and private investors.
According to Kale United, the raise will support its work as it ‘continues to build the leading portfolio of plant-based companies and help get their products to market in Scandinavia and beyond’.
‘A greener, kinder and more sustainable future’
Kale United Founder Måns Ullerstam revealed that the new round has brought Kale United’s total number of investors to more than 500. Thanking them, he said the company is ‘making it possible for everyone to be shareholders in the leading portfolio of plant-based companies’.
Ullerstam added: “I am particularly proud and grateful to have attracted this strong support for our latest funding round during such a challenging time for individuals and businesses globally, as humanity tackles the current COVID-19 crisis.
“By supporting Kale United people are playing an active role in helping our transition towards a greener, kinder and more sustainable future. A future where healthy, plant-based foods are available to all, and where animal agriculture practices are rightly consigned to the history books.”
Ullerstam, who says the company’s portfolio has increased by 80 percent since launching in 2018, revealed that the new capital will be ‘ used to invest in or acquire new brands that are supporting global change and presenting fresh ideas that can positively impact the world’.
He added: “We will also be further expanding our global distribution network that is helping game-changing brands to scale. In Q4 this year we plan to raise another EUR2-4 million and the overwhelming interest we have seen in this first funding round proves that we are well on our way.
“The future is plant-based, and together we will help more innovative brands gain strongholds as household names and have a positive impact on the health of our planet.”