Plant-based meat producer THIS scores €5.1M funding

THIS boasts a growth rate of 53% month after month which has given itself the honorable title as one of the fastest-growing food startups in the foodtech world. As well as being present in over 1200 outlets in the UK, they have also secured partnerships with a number of restaurants and retailers. So how does the startup stay relevant in such a busy, plant-based packed industry? Well, it’s slightly different from its meatless competitors, as it targets meat reducers and flexitarians, rather than full-fledged vegans. 

The alt meat is made from soybeans and peas and puts extra importance on sustainability and the effects the meat industry has on the environment, it both reduces Co2 emissions and uses less water than real meat.

Their product is especially popular due to the fact that it’s said to mimic real meat, taste, texture and all. It’s a revolutionary development in plant-based food, and means that meat eaters can enjoy the taste of the meat they love, without compromise. In London, 65 meat eaters from the street were asked to participate in a blind taste testing – they tried two tikka products; THIS plant-based chicken, and a ready-to-eat chicken product bought from the supermarket. Guess what? 92% of participants thought that they were both real chicken.

Thanks to its successful seed-round where it managed to raise $5.1M in funding, backed by London-based Venture Capital Backed, the money will be used to open a new R+D centre to help meet the growing demands for more meat alternatives. 

Learn more about the latest foodtech news in Europe @SiliconCanals

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