Vevolution, the London-based fintech platform connecting alt-protein startups to investors, has just released new fundraising data. Looking at more than 126 investment rounds, startups were on average seeking $1 million to scale up. Together, these plant-based and cell-based startups are looking to raise $130 million in capital on Vevolution’s democratised fundraising platform.
Vevolution has just revealed its latest fundraising insights, showing that startups are seeking around $130 million on the platform. Earlier this year, Vevolution evolved from its roots in hosting plant-based events to become a global fintech platform supporting vegan and cell-based companies.
It is headed by co-founders Damien Clarkson and Judy Nadel, together with alternative protein investor Michiel van Deursen. The platform now serves more than 1,000 plant-based and cell-based organisation members globally.
$130 million up for grabs
Vevolution analysed more than 126 investment rounds added to the platform during Q1 and Q2 this year. On average, startups are looking for just over $1 million in funding to grow their companies, putting the average valuation of firms at an estimated $7 million.
In total, plant-based and cell-based companies on Vevolution are seeking to raise over $129 million.
Vevolution’s investors include some of the best-known names in the alt-protein investment sector. Among them are Veg Capital, the food tech investment firm founded by Veganuary’s Matthew Glover, and Swiss alt-protein VC Blue Horizon. Dismatrix and New Crop Capital are also on Vevolution’s platform.
‘Dozens of success stories’ to come
According to co-founder Clarkson, the latest figures based on just Q1 and Q2 this year are indicative of the strong support that the platform is able to provide. Startups are actively using the service to seek funding and grow their teams, products and launch new sustainable solutions on the market.
Some of the firms that have already raised successful rounds through Vevolution include Indian plant-based egg startup Evo Foods, U.S. vegan meat maker No Evil, and Nigeria’s first plant-based startup VeggieVictory. In February, VeggieVictory bagged pre-seed capital from investors hailing around the world to support its vegan jerky launch.
Clarkson says that there will be “dozens of other success stories releasing later this year.”
Dozens of other success stories [will be] releas[ed] later this year.Damien Clarkson, Co-Founder, Vevolution
Vevolution to undergo ‘epic growth’
To continue expanding its community and impact, Vevolution says it’ll be fundraising on its own platform too. It plans to raise capital to further build out its tech and expand its investor member base. It also wants to provide new features and tools to support startups.
“Over the next 12 months Vevolution will embark on an epic growth plan building upon our huge initial success,” commented Clarkson.
Some of the latest features added to Vevolution include a jobs tool, which acts as a matchmaking service between startup employers and talent. VFC, the plant-based chicken startup co-founded by Glover and Adam Lyons, has used the service to fill out their open positions quickly.
“Vevolution is an extremely useful recruitment platform for vegan businesses with features that helped us keep track of applicants,” shared Imogen Hibberd, VFC’s social media manager.
Clarkson also revealed that Vevolution is now looking for a new CEO, as he and Nadel transition to board positions to focus on their alt pet food startup The Pack. Vevolution is listing this job opening on its own platform too.
“We put our money where our mouth is,” said community and operations director Erik Amundson. “We wouldn’t use our own technology for our most important business activities if we didn’t believe in it.”
Lead image courtesy of VFC.