Vegan frozen ready meal manufacturer Allplants has received a seven-figure cash injection from investors, which it called a “significant milestone on our pathway to profit”.

Allplants new £1.8m was announced alongside the appointment of Tim Kelly as Allplants’ first chairman, reported The Grocer.

Serving on boards such as Vegetarian Express and Burts Snacks for over a decade, Kelly has also held roles at both Premier Foods and Diageo.

Kelly told the publication: “I’m excited to join Allplants at such a pivotal moment. The progress the company has made is impressive, and I look forward to working with the team to drive further growth and innovation.

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“Together, we will continue to lead the way in transforming the plant-based food category, inspiring the planet to eat more plants.”

Allplant’s new investment follows its its last year £10m fundraising round aimed at extending its 43,000 sq ft manufacturing facility to ramp up production to 300,000 meals a week.

It comes amid a series of challenging years for the plant-based start-up, leading to CEO Jonathan Petrides taking the company through a reset at the end of 2022 in a bid to enhance profitability, increase efficiencies, and reduce marketing expenses.

Petrides added: “We’re thrilled to see our vision come to life as we close in on profitability.  This additional funding is a testament to the hard work and dedication of our team and the unwavering support of our investors.

“We’re more committed than ever to making plant-based eating seductively delicious and easy for everyone.”