Hyper-realistic plant-based meat company THIS™ raises £4.7m

by Startacus Admin
Investment news announced for one of the leading companies in the meat-alternative market
THIS™, arguably the world's most realistic meat alternative company has just revealed that it has raised £4.7m in ‘Seed Plus’ investment, led by London-based fund Backed. The other venture capital firms involved in the round are Five Seasons Ventures, Idinvest Partners, Seedcamp and Manta Ray Ventures. Since 2018, the company has raised £5.6m in total from 12 angel investors and the above funds.
The latest investment will be used for manufacturing capabilities, a new R&D centre and key hires, all key for the business to keep up with growing demand.
THIS™ is quickly becoming a leader in the meat-alternative market, which has emerged as the UK’s fastest-growing food category, worth over £400m. Following rapid growth, they are one of the fastest growing food businesses in the UK and they’ve experienced a compound growth rate of 35% month-on-month.
Andy Shovel, co-founder of THIS™ commented:
"We’ve been able to leverage our strong first few months to obtain this fantastic investment from strong partners. It allows us to massively boost our manufacturing capacity and crucially – to create a formidable innovation engine within the company, by establishing an internal R&D centre."
Having only launched in mid-June 2019, as of December 31st 2019, they have an annualised revenue of c£3m. Their meteoric rise has seen them place their products in over 1200 outlets across the UK.
Alex Brunicki and Andre de Haes, partners at Backed commented:
"Food sustainability is a topic we care a great deal about at Backed and is a major tailwind to be investing into. Andy and Pete have created a number of best-in-class products, nurtured a passionate community of customers and executed on an ambitious distribution strategy in lightning quick time. We are thrilled to be backing the team at THIS’"
Carlos Espinal, Seedcamp Managing Partner, commented:
"Investing in the future isn't just about investing in hard-tech companies; it's also about investing in the future of our consumption and the sustainability of food sources and their long-term ecological impact. We first invested in Pete and Andy and their incredible vision for THIS a few years back and are proud investors and customers of their delicious products which not only address increased consumer demand for meat-free alternatives but also help contribute towards building a more diverse and sustainable food supply-chain that has already attracted
the interest of many top retail brands."
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Got a business in the manufacturing sector? These tips on how you can reduce energy costs while being more sustainable are well worth a read...

Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.

Nassia Skoulikariti, Director of IoT Programmes, Mobile Ecosystem Forum shares some insights on how IoT is having a significant impact on all our lives.

Roger James Hamilton, Founder and CEO of Genius Group, a world-leading entrepreneur Edtech and education group, discusses how introducing a globalized curriculum will help better prepare students.

SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.

41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.

Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.

Thingtrax Secures £4.3M to Empower Manufacturers to Build the Factories of the Future

A measure of inflation relief for small firms sees transport costs fall but service price increases remain elevated

Bedfordshire-based HR tech startup HR DataHub has built a range of tools for HR departments
Published on: 11th March 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- SureIn Secures €4M to Close the SMB Insurance Gap 15th Aug 2023 Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
- SuperFi raises $1M pre-seed funding round 28th Jul 2023 SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
- Startups rely on AI & sustainability for new partnerships 27th Jul 2023 41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
- Another Round closes £300k Seed round to revolutionise personal training 21st Jul 2023 Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.