Plant Alternative, which produces the Shicken range of Indian-ready meals, has received a further £2 million in investment from Veg Capital.
The investment fund which specialises in vegan businesses originally invested in Plant Alternative in October last year. This latest funding round will see the plant-based company scale up production and expand its reach to more Costco stores across the UK and internationally.
Additionally, the investment will allow the Shicken brand owner to move into a new BRC compliant production facility, which will help grow production volumes by up to 10 tonnes per day to help meet Plant Alternative’s growing demand and customer base.
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Plant Alternatives co-founder Satvinder Bains said: “I can’t believe only 18 months ago I was making our Shicken meals on my kitchen dining table and now we are planning the build of our third manufacturing site.”
Veg Capital managing director Matthew Glover said: “Plant Alternative is really going from strength to strength and the successful Costco launch presents a massive opportunity to take the brand across the pond to the North American market.
“We have every confidence the Shicken brand will take off and fly over there, just has it has done here. The product range just keeps getting better and better and the new tikka kebabs are astonishingly good.”