Food and drink start-ups have experienced a record year on Seedrs despite the challenges presented by the coronavirus pandemic in 2020.
During the year, 58 campaigns hit their funding targets, a 29% increase on 2019, raising £45m, which represented a 121% rise on the prior period.
It is the first time since the platform launched in 2012 that more than 50 food and drink pitches successfully completed, with an 85% success rate for start-ups in the sector.
Fifteen businesses in the space raised more than £1m, a three-times increase on any previous year.
Start-ups in the plant-based market were the star performers for food and drink, with Allplants and This both raising £4.5m, alongside more than £1m for vegan snacks producer Livia’s and £910k for dairy-free brand Mighty Pea.
The platform also registered a profitable exit for investors in Mindful Chef, which was snapped up by Nestlé in November.
Overall, Seedrs also had a record-breaking year, with £293m invested across all sectors, bringing the total invested through the platform since launch to more than £1bn.
Exec chairman and co-founder Jeff Lynn said: “We have seen many successful, game-changing fmcg brands raise money and grow consumer support through Seedrs campaigns over the year.
”We’ve helped brands like MindfulChef, AllPlants and Oddbox to grow and they’ve changed how we interact with food and drink - giving new experiences and new flavours.
”In the year ahead we see the sector will continue to evolve and, thanks to the growth in takeaway and home meal boxes over the 12 months, we expect new exciting businesses to emerge that will change the fmcg landscape once again.”
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