Wicked Kitchen has announced as of 28 September 2022, it has managed to raise US$20 million in additional funding, having tripled its year-over-year sales growth of animal-free products.
New investors include actor and vegan advocate Woody Harrelson, Ahsima, a fund that invests in startups which are building a sustainable world and NRPT, a Thailand-based producer and innovator. The funds will help the company to ramp up global brand awareness initiatives and expand retail distribution and other channels to include food service.
“I have known Chad and Derek for many years and have been impressed by their wicked creativity in the kitchen and that they are not afraid to push the boundaries,” commented Woody Harrelson, Actor and Investor in Wicked Kitchen. “What I love about this brand is that the products are actually created by chefs that always put flavor first, making it so easy to go plant-based.”
The company is on a mission to improve the lives of humans and animals by encouraging people to eat more plants. Currently, products are in more than 6500 retail stores across the US, one year after the brand was introduced to the US marketplace.
“During this high growth phase, it is validating to have support from additional investors who believe in our mission and in the future of plant-based foods,” explained Pete Speranza, CEO of Wicked Kitchen. “This latest round of funding will help us go faster to expand our offerings in the U.S and abroad and it puts us in a well-poised position as we continue to lead plant-based innovations with flavor-forward products that appeal to vegans and omnivores alike.”
More US consumers are looking to reduce the amount of meat they eat, a 15% increase from last year according to Datassential’s 2022 report. Wicked Kitchen’s variety of animal-free foods includes noodle cups, sauces, pizzas, meal kits and ice creams to offer the US with a wide selection of 100% plant-based foods.
Key milestones the company has achieved since its launch include its acquisition of Good Catch, a plant-based seafood brand, launching more than 38 products at Kroger and Sprouts Farmers Market and distribution in 1250 Walmart stores.
“Looking over the plant-based landscape, Wicked Kitchen stands out in the crowd not only because of our tremendous growth but also because of our variety across various supermarket departments,” added Mr Speranza. “The fact that retailers are picking up multiple SKUs and some are even dedicating entire frozen door sets for our products is a testimony that they want to present customers a variety of options under a single flavor-forward, plant-based brand that has broader appeal.”
In addition to expanding its footprint and products in the US, the company launched 23 products in Finland’s retailer S-Market and in October 2022 it will introduce 17 products into Thailand’s retailers Tops Market and Central Food Halls.
Read more latest industry news and developments in our free to download magazine.
Never miss a story… Follow us on:
Editor, International Bakery
Tel: +44 (0) 1622 823 920