Lewis Hamilton-backed Neat Burger plans 30 more sites for plant-based food chain
Neat Burger, a plant-based restaurant chain that counts Formula One driver Lewis Hamilton among its backers, plans to open 30 new sites across London following a latest funding round.
The company, which was founded in the capital in 2019, said it has completed a funding round valuing it at $70 million (£51 million).
The meat-free business has five restaurants open. It plans to also launch in the following areas over the next 12 months: Canary Wharf; Westfield Stratford; Bishopsgate;â¯Ealing; Kings Road; â¯Queensway; Waterloo;â¯Covent Garden,â¯London Bridge,â¯Clapham,â¯Hammersmith andâ¯Shoreditch.
It added thatâ¯regional expansion is also planned for 2022.
On top of that it will also openâ¯16 additionalâ¯delivery kitchens across the capitalâ¯as of early 2022, to help with home delivery orders.
Neat Burger said the latest raise was led by Rajeevâ¯Misra, CEO ofâ¯SoftBank Investmentâ¯Advisers.â¯He said:⯓I am thrilled to be part of the Neat team as it continues to develop and expand in the UK – the vegan market is growing rapidly, and it is an exciting time for the brand.”
⯠Misra joinsâ¯a number of existing investors including Henrik Fjordbak, former COO of Joe & the Juice, and Anthony Di Iorio, co-founder of Ethereum.â¯
Hamilton said: “We created Neat Burger to make plant-based eating more accessible to everyone whether you eat plant-based all the time or just want to add it to your diet every now and again. â¯The response to Neat Burger since we opened has been incredible.”
The Financial Times, which first reported on the raise, said the chain is expecting to boost sales 300% year on year as it opens new sites.
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