The funding means that Veg Capital has now invested £6m in SHICKEN, a business founded in 2020 by husband-and-wife duo Parm and Satvinder Bains.
The couple plan to use the funds for further CAPEX investment in SHICKEN’s state-of-the-art manufacturing facility in Dartford, Kent. Increased scale and capability, together with the site’s recent BRC accreditation, will make the site one of the UK’s few dedicated plant-based, nut-free facilities.
Following the completion of work on the site, SHICKEN will possess the capacity and capability to produce a breadth of branded and private label products across the retail and foodservice categories.
The firm’s alternative proteins are made with a blend of soya, wheat and pea proteins, while its curries and kebabs are crafted using marinades based on traditional recipes passed down by Satvinder’s grandmother.
Shortly after SHICKEN was founded out of the Bains’ home kitchen, they were discovered by Veganuary Campaign and Veg Capital Founder Matthew Glover, who initially put £2m into the business.
Commenting on this latest round of investment, Glover, said: “The SHICKEN range is simply delicious, and their curries and kebabs are flying off the shelves - it was a no-brainer for Veg Capital to reinvest.
“We're excited to play our part in helping this family business go global over the coming years.”
Meanwhile, Parm Bains described the journey so far as “phenomenal” and said that he was “incredibly excited to see business scale on an international level”.
“Veg Capital has been the perfect partner, aligning with our commitment to a more ethical and sustainable food system and backing our potential to become a global brand and major plant-based producer within the next five years,” he continued.
“This investment allows us to realise the ambitions for SHICKEN and to offer our proteins and develop recipes on a private label basis, where I can also leverage my 20 years’ experience within food manufacturing across the major retail and foodservice channels.”
In other news, global emissions from livestock must fall 61% by 2036 in order for the goals of the Paris Agreement to be met, a new study has claimed.