Vegan Investment Insight Report, UK & Ireland (2020-23)

The plant based sector in the UK and Ireland has grown exponentially since the start of the pandemic in 2020 – but signs are pointing to a marked slowdown in the segment as investor funding dries up. Have we hit peak investment for vegan businesses, or is there more still to come from this sector?

The Vegan Investment Insight Report from Keskorra Insights takes a deep look into the funding landscape for plant-based FMCG businesses over the past three and a half years (H1 2020 - H1 2023), drawing data from 66 UK and Irish businesses and 117 investors involved in funding them to examine the prevailing trends and offer insight on the current opportunities available to those seeking funding for their own plant based organisations.

Excerpt:

"...Nearly half of all investments made into the UK&I plant based sector between H1 ‘20 and H1 ‘23 were seed rounds, comprising 48.4% of the total.

These encompassed a wide range in terms of value, from Dabba Drop’s £50k all the way up to Omni’s £11.2m seed raise, which bettered some businesses' Series A and B rounds. 

While the majority of the available funding went towards businesses undergoing Series A and B – including THIS, Allplants, Huel, LoveRaw and Neat Burger, there were also 11 pre-seed investments made – with 36.4% of these companies going on to seek further funding during the period analysed, including Better Dairy, Gaia’s Farming Co and THE PACK..."