One Planet Pizza, the UK’s leading producer of plant-based frozen pizzas, announced that it had secured £360,000 in its second round of funding, exceeding its £340,000 target. Investors included vegan investment funds such as Veg Capital and Kale United, as well as Angel investors breaking into the growing plant-based sector for the first time.
The Norfolk-based company is on a mission to challenge the norm, aiming to ‘do things for the planet, not just our pockets’. The funding will allow One Planet Pizza to upscale its production and continue its growth as a challenger brand in the frozen pizza space.
Founded by father and son team Mike and Joe Hill from a garage in 2016, the company has grown to produce hundreds of pizzas a day from a dedicated production site. The new investment will enable One Planet Pizza to triple its production capacity and improve efficiencies.
The investment will be further used to bolster the creation of several new products in 2021 as consumer demand for plant-based food increases. The frozen pizza sector in the UK is now worth £45.5 million, with plant-based a key focus for NPD as the number of vegans, vegetarians and flexitarians continues to grow, with 74% of UK households consciously reducing the amount of red meat they consume.
The investment with also enable One Planet Pizza to expand its direct-to-consumer offer, One Planet Pizza Direct, as well as bolstering the company’s expansion into Scandinavia – encompassing Norway, Sweden and Denmark – with support from Kale United.
Måns Ullerstam, founder of Kale United, says: ”Kale United has been following One Planet Pizza from the start. We are very happy to now join as investors and help take the best plant-based pizza to the global market by distributing their pizzas across all of Scandinavia.”
One Planet Pizza Co-founder, Mike Hill, says: “We are really excited that such a range of investors believe in One Planet Pizza and what it is trying to achieve. We’re delighted to bring new investors onboard and inspire their journey into the plant-based sector. It’s also particularly pleasing that Veg Capital, which has been our main investor since March 2020, has followed on so quickly with further investment, which is supporting our rapid growth targets.
“We are looking forward to using the extra resources and bandwidth that this investment brings to expand our range of products and broaden the reach of our pizzas into new markets. The future is indeed plant-based and epic pizzas are our way of making a delicious difference!”
Future plans also include distribution into Germany and the Netherlands, as well as investment into projects which will benefit both the planet and diverse online community which One Planet Pizza supports. Each pizza is packaged using 85% recycled materials and printed with 100% vegetable derived inks. The packaging is zero-landfill, and each sleeve can be recycled.
Matthew Glover, Managing Director of Veg Capital, says: “We have enjoyed working with Mike and Joe from One Planet Pizza since our initial investment in early 2020. We’re very excited about the future plans, and had no reservations about investing again in this round.”