Co-led by BGF and Lever VC, the £11 million investment round achieved by THIS™ is the largest Series A fundraise for a meat alternative brand in the UK.
The company was founded in 2019 and has claimed to create ‘hyper-realistic meat alternatives’ for their THIS™ Isn’t Chicken and THIS™ Isn’t Bacon product ranges. Since launch, the firm has seen an annual growth rate of 633% – the brand has been stocked in over 8,900 retail distribution points and is used in over 300 restaurants, including Prezzo, Pho and Honest Burgers.
THIS™ will use the investment to support the company’s rapid growth, expand its R&D capabilities and bring new products to market.
Nick Cooney, managing partner at Lever VC, said: “We’ve never seen a plant-based meat company grow its sales and its store count as quickly as THIS™ has. We think the company is well on its way to being a category leader in the UK and beyond, and we’re delighted to back THIS’s stellar team and support their expansion into new products and new markets.”
Andy Shovel, co-founder of THIS™, commented: “We are absolutely thrilled, as we are now in a position to lease an office with windows. The team were losing their sense of humour over our current neon-lit home. In addition, this investment will unlock the most exciting new product development schedule. We’ve got some wacky plans for new tech and a huge line up of plant-based products, which will make eating plant-based food that bit easier for consumers.”
