Saturday, May 18, 2024

Sessions raises £3m from Guinness Ventures

Sessions, the growth platform for original food brands, has raised a further £3m from existing investors Guinness Ventures, as it seeks to expand on its technology offering, while launching a new franchising arm, starting with SoBe Burger and Ivan Ramen.

In less than three years of operation, the Sessions Platform has grown to £55m in sales. The raise follows a £3.25m deal closed with Virgin Money in the autumn and sees the company double its valuation from Series A.

Founder Dan Warne said: “It is rare to have such supportive investors as Guinness, and we are very pleased to see the confidence they have shown in our business following this second, meaningful investment.

“The resilience and drive of our team is what you want to see as a Founder, navigating a tricky couple of years, and we’re seeing the benefits of that as we deliver very strong, sustainable growth.”

Head of Origination at Guinness, Ashley Abrahams said: “Dan and the team have done a fantastic job in delivering great growth whilst remaining capital efficient, navigating challenging economic conditions.

“The team have been a pleasure to work with and with massive opportunity for further growth ahead, it was an easy decision to lead a further funding round.

“Sessions are well placed to take advantage of the increasing demand for high quality, authentic food from talented chefs across the country, at the same time supporting the wider kitchen partner ecosystem through the creation of complementary revenue streams.”

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