The NEAT Food Co, the UK vegan fast food chain backed by Lewis Hamilton, reveals actor Leonardo DiCaprio has joined the group as a strategic investor. Bloomberg reports that NEAT’s most recent valuation is $100 million.
Today, Thursday April 28th, NEAT is also initiating a $30M Series B funding round to accelerate its growth, according to the company’s press release. The news is part of an omnibus of major developments as the group embarks on an international expansion. According to NEAT, the Series B will primarily involve US investors, and funds will be used toward strengthening its CPG pipeline, new products, and expanding team hires.
Other company news:
- NEAT’s US expansion will begin in New York City, with its flagship Neat Burger store opening in Fall 2022. A pop-up in Urbanspace Vanderbilt opened this week ahead of the launch. The roll-out will span other major hubs in the US.
- NEAT is launching later this year in Italy and the Middle East. As part of a rapid expansion, NEAT is expecting to have 42 sites globally by the end of 2022, including 12 in the US, 231 by the end of 2024 and 436 by the end of 2026.
- NEAT plans to debut its award-winning burger patty, fish filet, and a range of other IP-owned products – including improved versions of its chicken patty, hot dog, nuggets and shakes – by the end of the year. The brand is already in talks with major retailers in the US and UK about stocking its range.
- NEAT recently announced new appointments to its advisory board including Jeffrey S. Fried, the former Chairman of Sweetgreen and Henrik Fjordbak, previously Chief Operating Officer at Joe & The Juice.
Actor and advocate
As a noted environmental activist, Leonardo DiCaprio says disrupting the system with sustainable alternatives is key to reducing global emissions. “Neat Burger’s pioneering approach to alternative-proteins is a great example of the type of solutions we need moving forward,” he said.
In an online statement, NEAT wrote: “Welcome to the team Leo, we’re thrilled to have you on our journey as we continue to shake up the global foodspace, one plant-based burger at a time.”