London-based Vevolution has bagged $330,000 in a seed raise. The round was led by Capital V, Kale United and CULT Food Science. Funding has been earmarked for tech improvements, portfolio expansion and continued support of the plant-based and cellular agriculture industries.
Vevolution offers a diverse platform for all plant-based or cell-based companies. It facilitates investments, raises, and team hiring. The company cites having created its own financial technology as a USP, with more than 3,000 users. This translates to 1,200 startups benefitting from the services offered and almost 100 investors signed up as members.
Connecting the plant-based world
Vevolution launched as a global hub for all things plant-based and similarly aligned. Its major function is to connect investors with startups via its democratised fintech platform. In 2021, its first full year of trading, Vevolution facilitated full or part-funding for 20 startups, located throughout the world. Notable inclusions were cell-based milk developer Opalia and precision fermentation honey startup MeliBio. Vevolution co-founders Damien Clarkson and Judy Nagel’s own venture, vegan dog food startup The Pack, has made use of the platform too, in a show of confidence.
“We put our money where our mouth is,” Erik Amundson, co-founder and managing director at Vevolution, said in a statement. “We wouldn’t use our own technology for our most important business activities if we didn’t believe in it.”
The recently completed seed raise will allow platform improvements to be made, alongside expanded offerings. No clarification has been offered as to the latter. As the global plant and cell-based sectors show no signs of slowing down, platforms such as Vevolution will need to adapt and upgrade regularly, to keep up with demand for online services.
“This industry is growing exponentially, with more start-ups and investors joining every day. Vevolution gives them a place to help each other, connecting people with businesses and capital,” Michiel van Deursen from capital V said in a statement. “The Vevolution platform makes it easier than ever to grow a successful business.”
Making good on a promise
In July 2021, Clarkson claimed that Vevolution was going to embark on a period of “epic growth”, off the back of initial launch success. At the time, the recruitment tab was a new feature, acting as an introduction service between companies and potential candidates for vacancies.
More recent developments include a strategic partnership with the Vegan Investors network. Prioritising early-stage vegan companies, it will onboard its community of investors to the Vevolution platform. “Vegan Investors is excited to join Vevolution and utilize its technology for screening and due diligence as well as collaborate with the broader community of other aligned investors and impact companies,” Alice Robb, founder of Vegan Investors, said in a statement.
Vevolution’s star players
Earlier this month, MeliBio announced it had completed a $5.7 million seed round. The California startup was supported, in part, by Vevolution angel investors. As a concept, MeliBio’s bee-free honey has garnered a lot of attention, with buzz increasing after tastings. The company utilises precision fermentation to replicate conventional honey without the need for bees anywhere in the supply chain. This makes for a sustainable and vegan product.
Over in Montreal, Opalia, formerly Bettermilk, just announced it had produced cell-based milk without fetal bovine serum (FBS). Having secured $1 million in pre-seed funding to prove its concept, facilitated in part by Vevolution, the startup has launched a seed round to continue its R&D, while analysing scaling costs.
The Pack, started by Vevolution co-founders Clarkson and Nagel, closed an undisclosed pre-seed investment round in January last year. Leveraging the platform, the two were able to snare high-profile and celebrity backers. Three ambient dog food options were released later in the year with the first vegan dog food advertising campaign launched in London this year, to coincide with Veganuary.
Lead photo by Vevolution.