Veg Capital’s latest investment is to support the scale-up of the novel plant-based cheese brand Honestly Tasty, founded by brother and sister duo Mike and Beth Moore. This will allow cheese-lovers across the UK to experience their take on classics such as Shamembert and Veganzola, which are produced using age-old fermentation techniques in their brand-new production facilities. The result is astonishingly authentic cheeses that will satisfy even the most die-hard dairy lovers.
Whilst other dairy alternatives such as milk are well catered for, cheese is often the last barrier for people looking to adopt a plant-based diet. Further, cheese is around ten times more resource intensive per kilogram than milk, in an industry which also raises serious ethical concerns regarding animal rights.
Veg Capital led the round with a £250k investment, which will enable the acceleration of Honestly Tasty’s NPD pipeline, including a novel, cultured hard cheddar that melts like the real thing, as well as a firm, smoked cheese, alongside Stilton and Wensleydale alternatives.
The team have recently moved into a state-of-the-art plant-based cheese factory in North London and will make use the funds to grow the team and drive expansion into national wholesalers and retailers, further accelerating their impressive growth rate of 11x since launching in 2019.
Veg Capital’s Cliff Johnson sees a bright future for the new alliance, saying “Vegan cheese is such an important product. Dairy production has a considerable environmental impact, as a major greenhouse gas emitter and user of land and other resources. It is also notoriously difficult to get right, but Honestly Tasty have absolutely nailed it with their range, which is honestly very tasty! We are delighted to be joining their journey”.
Honestly Tasty’s founder Mike Moore added “We’re really excited that Veg Capital are backing our mission to become the UK’s leading producer of fantastic tasting plant-based cheese. We’ve been in discussions for several months and it’s great to have such a supportive and knowledgeable team onboard, with values that are 100% aligned to our own. Our Seedrs crowdfund runs until the 6th of July and we are absolutely chuffed to be able to announce Veg Capital as lead investor.”
Veg Capital joins a prestigious team of existing investors, including Allplants founders JP & Alex Petrides, Tim Rowcliffe – of Rowcliffe & Son’s Cheese wholesaler, FTSE listed company CFO/COO John Gulliver, and mission-driven plant-based investors Johnson Resolutions.
You can get in on the action too, with an opportunity to invest via the Seedrs platform, which is live