THIS, UK Foodtech Making Plant-based Meat Alternatives, Raises Over £1 Million via Seedrs

THIS, which claims to be the UK’s “fastest growing” food brand (Feb ’23), making ridiculously meaty plant-based alternative, has secured over £1  million on Seedrs topping its funding target of £750,000. The securities offering has almost a month left in its campaign.

THIS is offering a convertible security with a 15% discount tied to a future priced round. The security will not trade on the Seedrs Secondary Market, and it does not display a tax emotion approval.

Located in Coventry, United Kingdom, THIS operates in the Food & Beverage sectors (Non-Digital Mixed B2B/B2C). Incorporated in December of 2018, the firm’s investment summary is as follows: Type Convertible; Discount 15%; Share price N/A; Tax relief N/A.

Business Highlights are:

• £22.3m annualised revenue after 4.5 years trading**
• Largest independently owned meat-free brand
• New CEO, formerly CEO of UK’s top baby food brand
• Launching a new minimally processed range in 2024

Key features are as follows: No Secondary Market; Seedrs nominee min. £10.00 +; Direct investment min. £50,000.00 +.

As noted in the update, THIS makes plant-based products, “designed to make animal-based meat feel like a massive waste of money.”

Having launched just 4.5 years ago, THIS claims that it has “ranked as the UK’s fastest-growing food brand* and largest independently owned meat-alternative brand (and 3rd biggest overall).”

THIS claims that it has “consistently delivered outstanding growth figures” since launch:

• £5.5m in year 1 (2020)
• £11.8m in year 2 (2021)
• £13m in year 3 (2022)
• £19.3m in year 4 (2023)

THIS was created when 2 former meat lovers “checked out meat-free food and decided they didn’t want any of it. After successfully exiting their meat burger chain, Chosen Bun, they set out to make the UK’s most realistic meat alternatives.”

In 2024 the Founders have taken “a step back to make room for a highly accomplished new CEO at THIS – Mark Cuddigan, who has previously helped take UK’s leading baby food brand from c.£24m sales to c.£86m sales, to take THIS to new heights.”

THIS now makes over 18 products, which “are now in nearly 24,000 stocking points across all major UK grocers.”

The brand has also partnered “with the leading restaurant chains, like Greggs, Caffe Nero, Prezzo and more.”

Monetization strategy:

THIS is on a mission “to shatter meat-eaters’ preconceptions of plant-based food, one rasher or nugget at a time.”

THIS products are now “available in over 24,000 grocery stores across the UK.”

Almost all of the brand’s restaurant partners “co-brand, which means they find it beneficial to call out THIS on their menus.”

THIS is also listed with major wholesalers too, “including Bidfood, Brakes, Wholegood, Blakemore, and VegExpress which supply to hotels, pubs, cafes, caterers, restaurants and independent shops, and rapid delivery retailers nationwide.”

As well as aiming to increase distribution, THIS is also “investing heavily into building a formidable innovation engine within the company as well as to drive towards profitability, so that they can deliver loads more plant-based innovation to the category such as a minimally processed wholefood-based range.”