Griddle has also strengthened its leadership team with the appointment of David Wagstaff as an investor and non-executive chair and Megan Harrison as a non-executive director.
Wagstaff is the former CEO of St Pierre Bakery, while Harrison is a former marketing director at St Pierre, Warburtons and Roberts Bakery.
Both will support Griddle co-founders Ella Harland and Sophie McGregor in growing the business, with the new investment expected to fund new hires, a rebrand and product launches.
Founded in 2019, Griddle specialises in frozen waffles and is now listed in around 300 Tesco stores in the UK, while it has seen a 150% increase in sales over the past year.
Its current product range includes five waffle variants – Original Wholegrain, Blueberry, Choc Chop and two protein SKUs – all sold in packs of six and HFSS compliant.
Commenting on his decision to join Griddle, Wagstaff said: “Frozen food is becoming more premium and there is a gap for a brand like Griddle in a sector that has traditionally been devoid of innovation and brand loyalty.
“Sophie and Ella are streets ahead in commitment, can-do attitude and vision and there is category space and the opportunity to excel. The success of their products to date, proof of concept and expansion plan is impressive, with a growth pipeline of NPD, new customers and future investment.”
Harrison agreed: “Griddle has made significant progress and is a brand we can grow. We need to future proof its positioning now.”
Meanwhile, Harland explained that the investment and senior leadership appointments were vital for the firm’s future success.
“This latest cash injection will help us accelerate our brand’s growth as well as support our new product launches later in the year,” she said.
“We are delighted to be working with David and Megan. Their expertise, knowledge and connections are second to none.”
Fellow co-founder McGregor added: “The frozen food sector is changing, and the time is right for a higher quality, healthier bakery option to fuel busy lives and look after the planet at the same time.”
The latest funding round was advised by Pannone Corporate.
