Plant-based meat substitute firm THIS is raising money on Seedrs once again. It last raised growth capital on Seedrs in 2020.
According to the offering page, THIS is offering a convertible security with a 15% discount at a future priced funding round. The security will not be available on the Seedrs Secondary Market.
As of today, THIS has raised £1.267 million on a funding goal of £750,000. Over 1750 investors have participated in the offering which is available for 19 more days.,
In 2020, THIS issued a convertible once again, raising over £4.48 million from 1844 investors. In 2022, THIS raised over £8 million on Seedrs backed by more than 2800 investors. Prior to raising money in an online securities offering, THIS raised £10 million from VCs.
THIS reports year-over-year growth, having generated £5.5 million in revenue in 2020 and rising to £19.3 million in 2023.
THIS currently offers 18 different products that are available in all major UK grocery stores. The soybean-based products include chicken, bacon, sausage, and hamburger. There are also prepared foods that are ready to eat. The company reports more than 24,000 stocking locations. The company has also partnered with multiple restaurants including Caffe Nerro and Prezzo.
As the company has loudly pronounced this funding round will be the last one available online, you would have to anticipate a future funding round will accept VC funding or, depending on where the company is in its growth strategy – perhaps a public offering.
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