VFC Foods, a newly formed vegan fried chicken company, has secured £2.5m seed funding to support its domestic and international growth.
Led by Veg Capital, a vegan investment fund, the funding round was also joined by the firm’s senior leadership team and Johnson Resolutions.
Launched in December 2020, VFC has already completed its first expansion into the Spanish market, and will use the cash injection to scale up its production and accelerate the growth of the brand in the UK and abroad.
Stewart McGuckin, director of sales at the company, said: “The launch phase has been phenomenally successful, with sales far exceeding our expectations, incredible food service and retail interest, as well as enquiries from more than 50 countries.
“All this has shown us two things: we have a brand and a product that people really love, and that we are ready to shift up a gear.”
The firm aims to achieve sales of £20m by the end of 2023, while more than doubling this to £50m in FY 2025.
To achieve this growth, co-founder Matthew Glover has been appointed as the group’s CEO, while Adam Lyons, chef at VFC, will oversee operations.
Glover, who also founded the Veganuary charity and movement, as well as serving as managing director at Veg Capital, said: “I couldn’t be more thrilled with how well the launch phase has gone.
“Now, with this funding, we can really scale up, and drive up that all-important chickens saved figure.”