Jack & Bry, a London-based producer of jackfruit meat alternatives, has secured £1.25 million in seed funding to drive continued product innovation.
The round was led by SFC Capital, with other backers including KM Capital, Rubix Ventures, and a number of high net worth private investors.
The investment comes at a time of rapid growth for Jack & Bry, and follows the recent appointment of FMCG industry veterans including former Quorn chairman Clive Sharpe and Singha Europe MD David Flower to the management team.
The funding will support further product innovation as the jackfruit pioneer targets more big-name customer acquisitions. AI to help develop more jackfruit products that closely mimic the texture of meat using its proprietary manufacturing process.
Online retailers and suppliers are stocking a growing range of plant-based meat alternative products to keep up with consumer demand – 40 per cent of UK consumers are either not eating meat or actively reducing their intake (Mintel, 2020). In this climate, Jack & Bry has experienced 400 per cent growth in new customer launches in January alone.
Founder Bryony Tinn-Disbury said: “We know consumers are seeking out meat alternatives in ever greater numbers, but they are also seeking higher quality in the plant-based foods they buy.
“Key to that is authentic recreation of taste and texture, and we’re proud to have developed a full retail range of branded jackfruit products to mimic all the meats to satisfy that demand.”
“Our ambition is to launch with another major supermarket in 2021 to help meet the booming demand. We predict the Veganuary effect will last throughout the whole year, not just January, and backed by our new investors and non-executive directors we are excited for the next stage of the journey at Jack & Bry.”