Oggs has beaten a £450k crowdfunding target as it aims to reduce the food industry’s reliance on eggs.
The plant-based egg and bakery brand’s campaign on Seedrs is currently (at the time of publishing) backed by more than 180 investors who have invested £485k.
Oggs will use the money to unlock new manufacturing opportunities and bolster its branded grocery business supplying “cruelty-free” cakes.
The B Corp business has grown 41% year on year on average since being founded by Hannah Carter and Polly Trollope in 2019.
“We’re so proud of the work done at Oggs so far,” Carter said. “We’ve reduced the need for over nine million eggs, saving tonnes of CO2e in the process. But we’re just getting started.
“Our plan over the next few years is to make further inroads in egg reduction and removal policies across multiple industries. We’ve saved millions of eggs so far, but our goal is in the billions.”
As well as supplying all the major supermarkets with egg-free cakes, Oggs makes liquid egg alternatives for the foodservice industry, with its products used by the likes of Wagamama and Bill’s and launching with Bidfood earlier this month.
It also started trials with some of the largest bakeries and manufacturers in the UK and Europe in November.
The company – which is minority owned by spreads giant Upfield following a deal in 2022 – aims to grow revenues from 2023’s £2.7m to about £11m by 2026.
Oggs claims its egg alternative products produce 72% fewer CO2e than eggs.
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