Huel which has sold more than 270 million of its nutritional meal replacements since 2015 has raised an additional US $24 million in a fundraising round led by existing investor Highland Europe.
The plant-based brand will use the funding to continue its investment in new product development, expand further into retail, and develop international markets where it generates some 50 per cent of its revenues. It will, it says, focus strongly on the US market where it has strong demand.
Huel CEO James McMaster said: “Highland Europe have been a strong backer for our business in the last four years and we’re delighted about the extra support from Idris (Elba) and his wife Sabrina, Grace (Beverley), and Jonathon (Ross). Our investors have all expressed their belief in what we are trying to achieve at Huel – making nutritionally complete, convenient, affordable food, with minimal impact on animals and the environment.”
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