Healthier doughnut brand Urban Legend has secured £3 million in seed funding from investors.
The company reports that it has raised funds from a variety of angel investors, venture capitalists and health charities involved in tackling obesity.
Contributors include The Good Food Fund and Urban Legend’s leading investor, Eka.
The investment is set to go towards a “cutting-edge” test lab to create a range of HFSS-compliant doughnuts which are “indistinguishable” from existing varieties.
The brand aims to “significantly reduce the fat and sugar contents in bakery products.”
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It was launched in summer this year by Believe in Science and is currently being led by former Graze chief executive Anthony Fletcher.
“We’re privileged to have financial backing from such future looking firms and individuals who recognise the importance of using science to respond to long-term societal issues like obesity,” Fletcher said.
“As an industry, we need to work more closely with the science and healthcare communities to reformulate the way products are made, making them healthier without compromising on taste.
“We are thrilled to have secured the support of so many investors who share our cause.”
Eka founding partner Camilla Dolan added: “Eka is delighted to be partnering with Anthony on his mission to reduce the sugar and fat in the bakery industry through science-led research and development.
“Eka is focused on investing in founders creating positive system change and sees Believe in Science as a fantastic example of how an ambitious founder can improve our food system.”
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