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A British plant-based meat brand has become the fastest campaign to hit £1.5 million on crowdfunding platform Seedrs.
THIS, which makes what it describes as ‘hyper-realistic plant-based food for meat lovers’ is also the fastest Fast Moving Consumer Goods (FMCG) business to hit its target on the platform, the company revealed to Plant Based News in an email.
The fundraising, which is still in its private phase, is set to go public in the upcoming days. This, which has raised £3 million to date, has exceeded its £2 million target with 40 days still left of the campaign.
This plant-based meat
The brand has seen significant success since its launch in 2019. Its products – which include vegan-friendly bacon and chicken – are available in major outlets across the U.K including Tesco, Waitrose, and Holland & Barrett among others.
In an email to PBN, THIS said it is ‘on a mission to shatter meat-eaters’ preconceptions of plant-based food, one rasher or nugget at a time’, and that it plans to ‘accelerate growth, build a Willy Wonka-esque plant-based innovation center, launch new products and launch in two more of the Big Four supermarkets’.
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Demand
Earlier this year THIS revealed it had sold more than 3 million portions of its vegan meat since launching in June last year, with its growth at a compound rate of 35 percent month-on-month, making it one of the fastest-growing food businesses in the UK.
According to THIS, the company saw an increase in demand during the COVID-19 lockdown, resulting in its supermarket revenue doubling from February to March, following households eating more meals, with Andy Shovel, co-founder of THIS™, saying: “Ain’t no pandemic going to keep THIS down.”
You can find out more about THIS’ crowdfunding campaign here
