Planty launched in 2019, with an initial focus on London as an experiment for its service before branching out to the rest of the UK.
The company offers a selection of frozen vegan meals delivered direct to consumers on selected delivery dates.
The seed investment totals £160,000, of which Veg Capital has provided £150,000.
The vegan market is proving attractive to investors. Former Mars Canada boss Don Robinson, who joined Eat Beyond, a new fund for plant-based food products, is looking to invest in global vegan companies.
Planty, which is founded by Andrea Cavallo, Ali Sheehan-Dare and Joe Lovell, will be expanding its range of meals and said it has plans for some future partnerships.
Veg Capital is a specialist private venture fund that primarily provides early-stage Angel, Seed, and Series A funding, with investments typically ranging from £50,000 to £250,000.
Veg Capital invests primarily in companies developing meat, dairy, eggs and seafood replacements with plant-based, recombinant and cultivated ingredients. It has already invested in plant-based brands including Mighty Pea, Native Snacks and One Planet Pizza.
Planty co-founder and chief executive officer Cavallo said: “We are delighted to have Veg Capital on board. With their support, we will be able to aggressively execute our production roadmap, alongside accelerating the growth of our social and environmental mission.”
Head of meal development and co-founder of Planty, Lovell, who has worked at some of London’s top restaurants including Petrus, added: “As well as creating
new meals, we will be looking into developing other ranges as we grow, giving customers more chances to
enjoy delicious plant-based goodness and helping to supercharge their eating routine.
“Our aim is to build the largest UK plant-based kitchen.”
Managing director of Veg Capital Matthew Glover said: “We’re delighted to be investing in Planty as we see huge potential for D2C [direct to consumer] frozen plant-based ready meals, with the growth of online grocery shopping, and people needing a quick, healthy meal while working from home or returning to the commuting lifestyle.”
Research company Mintel recently revealed that vegan diets had become more attractive to consumers during the COVID-19 pandemic, especially a quarter (25%) of British millennials aged 21-30.