Veg Capital, the UK vegan investment fund, is leading the latest funding round into vegan cheese company Honestly Tasty. The new investment round will support the scale-up of the novel plant-based cheese brand, with Veg Capital leading with a £250k investment.
“Honestly Tasty have absolutely nailed it with their range”
Founded by brother and sister duo Mike and Beth Moore, Honestly Tasty uses traditional fermentation techniques in its state-of-the-art production facilities in North London. It creates UK favorites like Shamembert and Veganzola which the company claims are highly authentic and satisfy even the most die-hard dairy lovers.
Veg Capital, whose portfolio includes UK category leaders such as VFC, Clive’s Pies, and Plant Alternative, leads the round to enable the acceleration of Honestly Tasty’s NPD pipeline, including a cultured hard cheddar, smoked cheese, and Stilton and Wensleydale alternatives. The funds will also grow the team and drive expansion into national wholesalers and retailers, further accelerating the brand’s impressive growth rate of 11x since launching in 2019.
As previously reported by vegconomist, Honestly Tasty is also running a crowdfunding campaign on Seedrs, giving members of the public to invest in the fast-growing cheese alternative brand. The campaign has already smashed the £450,000 target, having now reached almost £700,000. The crowdfunding will be live until 6th July.
“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”, stated Veg Capital’s Cliff Johnson.