Vegan food chain Neat Food secures Series B funding to drive growth

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Plant-based restaurant chain Neat Food secured investment in a Series B funding round, which saw Hollywood actor Leonardo DiCaprio participate.

Backed by British racing driver Lewis Hamilton, the food chain will use the funding to support its global expansion plan and increase its workforce.

In a statement, DiCaprio said, “Disrupting our food system with sustainable alternatives is one of the key ways to make a real difference in reducing global emissions.

“Neat Burger’s pioneering approach to alternative proteins is a great example of the kind of solutions we need moving forward.”

The burger chain, which was started by Hamilton and Tommaso Chiabra in 2019, plans to open its first American brick-and-mortar location in New York City later this year.

Neat Burger plans to open 12 locations across the United States, including storefronts and shadow kitchens, starting with a location in New York and later moving to other major US hubs.

Currently, the catering company operates eight locations in London, UK.

It plans to target 42 sites worldwide, including Italy and the Middle East, by the end of 2022, followed by 231 sites by 2024 and 436 by the end of 2026.

Neat Food Co-Founder and President Chiabra said, “Our Series B raise will accelerate our global expansion and entry into the consumer packaged goods (CPG) market, so everyone can enjoy alternatives that not not only taste delicious, but have a positive impact on the planet. .”

Last October, Neat raised $7 million in a funding round led by SoftBank Investment Advisers CEO Rajeev Misra.

Ethereum cryptocurrency co-founder Anthony Di Iorio and Technogym owner Wellness Holding also joined the cycle.

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Tanya S. Norvell