Plant-based meal kits for the home have become very big business in the last year. In the UK we have seen significant expansion from the major players AllPlants as well as high profile restaurants like Stem & Glory enter the market.
Now one of the world’s foremost meal kits companies Copenhagen-based Simple Feast, which delivers environmentally friendly meals across Denmark, Sweden and Los Angeles, has opened up shareholding opportunities to the public.
The company which has so far raised $45 million through traditional VC companies is now offering anyone the opportunity to invest in it via Crowdcube.
“We have decided to offer shares of our business to show our loyalty to existing as well as future customers, because they are the ones creating real change in the world every time they eat plants instead of meat. This is the reason that we are now making it possible for them to join us on our journey and own a part of Simple Feast,” says Simple Feast’s CEO Jakob Joenck.
Simple Feast started its plant-based food adventure four years ago and has grown 110% year over year in meals delivered. In 2019 Simple Feast raised a total of $33 million in a Series B round led by US-based venture capital firm 14W, with a number of other existing investors, including Europe’s Balderton Capital, increasing their investment in the business. Earlier this year the company extended the round with another $12 million led by the Swedish venture capital firm Kinnevik.
In 2020 the company entered the US market and CEO Jakob Joenck has moved to the US to help his team grow the business.
“We now have our sights set on growing our product portfolio, expanding our geographic footprint, and increasing our support of the environment as we go global. Our first stop is the US, starting with Southern California – the epicenter of the plant-based food movement” Jakob Joenck says and continues, “Now, we’re excited to bypass the traditional investment model, and offer our customers, and community, the opportunity to own a part of Simple Feast, and to join us on our journey in using food as a force for good on our planet.”
There is no news yet on further European expansion to cities like London.
Existing investors are excited – Daniel Waterhouse, partner in London-based venture capital firm Balderton Capital was one of the first to invest in the company and he is more than satisfied with what the company has achieved so far.
“As we all look for ways to eat more sustainably and the plant-based food industry continues to grow, Simple Feast is uniquely positioned to drive disruption in the market. What sets Simple Feast apart from competitors is its commitment to working with whole foods, world-class chefs and food scientists to continually innovate, resulting in highly nutritious and convenient alternatives. The team is at the forefront of the food revolution and we’re delighted to be one of their supporters,” Daniel Waterhouse says.