Hackney Gelato secures £1.3m investment
The brand will also look to diversify its out-of-home presence in locations such as cinemas, theatres, and airlines
Hackney Gelato has secured a £1.3m follow-on investment from venture capital trust Pembroke VCT to fuel global expansion.
The new funding will support increased production, recruitment into the team and a consumer marketing drive.
Hackney Gelato is also targeting an expansion into new international markets and further growth in the out-of-home sector.
The gelato is currently sold in Spinneys stores in Dubai and the business is now eyeing opportunities across the Middle East and Asia.
The brand will also look to diversify its out-of-home presence in locations such as cinemas, theatres, and airlines.
Andrew Wolfson, CEO of Pembroke VCT, said: “Hackney Gelato is a fun and innovative London food business. They have bucked the trend in their category by bringing restaurant quality ice cream to the high street and into people’s homes.
“The escalating demand for their exceptional products is a testament to the simple yet effective formula at play: they make excellent gelato and have the business acumen to match. Pembroke are delighted to be on this journey with Enrico, Sam and the Hackney Gelato team to open doors for the new opportunities that lie ahead.”
Enrico Pavoncelli and Sam Newman, co-founders of Hackney Gelato, added: “We started Hackney Gelato to bring true Italian gelato to the UK. We are proud that our gelato is now available nationwide and consumers are loving our range, shown by our incredibly strong sales results. We have the ambition to truly step-change the quality of ice cream in the UK and abroad by producing restaurant quality gelato for all. We are on track to deliver just that.”