Fresh chilled chocolate maker Russell & Atwell has kicked off a funding round to bring in cash for an expansion push.
The business is aiming to raise £700k to strengthen the brand and accelerate the DTC operation, with a longer-term goal to expand more broadly into retail following a recent launch on Ocado.
Russell & Atwell are working to convince consumers to move from buying shelf-stable chocolate sold on traditional ambient supermarket aisles in favour of its products stored in fridges.
Founded in 2020 by Steve Russell and Giles Atwell, the company makes fresh filled chocolate bites that are stocked and sold from chiller cabinets in 90g pouches.
“We are establishing a category for delicious fresh chocolate using real foodie ingredients and bold flavours as shoppers shift away from ultra-processed options,” Atwell said.
“While fresh chocolate is gaining traction in the US, our goal is to introduce it to UK consumers, with our sights set on a 10% share of the £6bn chocolate market because, simply, we know that fresh tastes best.”
The brand is made using high-end ingredients sourced from small, ethical and, predominantly, British producers. Its chocolates don’t contain any palm oil and include Fino de Aroma cocoa, fresh organic British cream and butter, Essex Borage and Salisbury Plain honey and Dorset sea salt.
Founders Russell and Atwell boast more than a century of chocolate heritage between them, with the pair having worked at Cadbury and Godiva. Russell is a chocolate scientist, while Atwell’s background is in marketing.
They also appeared in a 2022 episode of Dragons’ Den and secured the backing of Steven Bartlett and Peter Jones.
Russell & Atwell is slowly expanding its retail presence, having been stocked in refrigerators in northern grocery chain Booths since 2023. The brand commenced a six-month trial on Ocado this May, introducing three of its signature flavours: Smooth Dark, Creamy Milk and Dirty Blond.
Following this round of fundraising, the goal is to begin expansion at the supermarkets from 2028.
No comments yet