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May 27, 2021

Plant Power Fast Food raises funds through Series A round

California-based Plant Power Fast Food completes $7.5m funding round to support growth plans.

Plant Power Fast Food, a US-based fast-food chain specialising in plant-based meals, has raised $7.5m through Series A funding round to support its growth plans.

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The funding round was led by Fusion Ventures subsidiary Helia Capital USA, Eat Beyond Global Holdings and Batta Foods.

The California-based chain also received investment from Aileen Getty.

Fusion Ventures CEO Lee Piccoli said: “At Fusion Ventures, our mission is to invest in purpose-driven companies that are a rare combination of pure passion and operational excellence, which is the core of any truly great enterprise.

“Plant Power Fast Food has built something unique and scalable, and the brand has captured the hearts of aspirational consumers whose needs are evolving.”

Plant Power Fast Food co-founder and co-CEO Zach Vouga said that the funding will be used by the restaurant chain to support its expansion plans, with a focus on new corporate unit development.

Vouga said: “It’s important that the capital comes in tandem with an unwavering belief in our mission to change the world.”

The restaurant group has added Sebastien Koechli to the board of directors. Koechli brings corporate finance experience to the team.

Headquartered in San Diego, Plant Power Restaurant Group, the parent company of Plant Power Fast Food, currently operates seven locations in California.

The company registered a year over year (YoY) enterprise-wide retail net sales growth of more than 50% in 2020.

It now plans for eight new store openings in locations, including Sacramento, Hollywood and Las Vegas.

Free Report
img

The critical role of sustainability for Foodservice success in the 2020s

Consumers have radically re-thought their priorities in recent years and changed their habits for the good of the planet, starting to hold companies accountable for their ESG activities. These changes are set to be significant hallmarks of the Consumer Landscape in the 2020s. In order to appease consumers’ new concerns, meeting these new sustainability imperatives will be crucial for the recovery of the Foodservice industry. Consumers are expected to use ESG criteria much more actively in their selection of Foodservice brands to engage with. Download GlobalData’s free report to:
  • Understand the range of ESG challenges currently facing the Foodservice sector
  • Gain insight into consumers’ expectations via consumer survey deep dives
  • Learn from foodservice operators and brands who are already successfully embracing ESG strategies
Stay ahead of consumer concerns and rise to meet them. Download the report now.
by GlobalData
Enter your details here to receive your free Report.

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