# THIS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/this-2

- Industry: Food
- Headquarters: London, UK
- Website: www.this.co
- Total disclosed funding: $60M
- Latest round: Series C (Jun 17, 2024)
- Investors on record: 13

## About

Based in the UK, THIS specializes in creating innovative plant-based protein products that cater to diverse dietary preferences, offering flavorful alternatives to traditional meat products.Founded in 2019 in London, UK, THIS is a company focused on plant-based protein alternatives. The founders, Andy Shovel and Pete Sharman, have experience in the food industry which they leverage in their operations. As of June 2024, THIS raised EUR 23.6 mn in Series C funding from Planet First Partners, marking a pivotal development in its financial journey. The company has successfully completed 7 deals to date, with the latest funding round being a key milestone in their growth strategy and has raised a total of EUR 23.6 mn.THIS™ specializes in providing a diverse range of plant-based protein products designed to cater to various dietary preferences and lifestyles. Their core offerings include plant-based sausages, crispy tenders, and creative meal solutions like “THIS™ isn't Peanut Butter Chicken Noodles” and “THIS™ isn't Lettuce Mince Tacos.” Their products target health-conscious consumers seeking sustainable, nutritious meal options that do not compromise on taste, distributing through retail supermarkets, foodservice establishments, and direct-to-consumer channels across the UK and Europe.For the most recent year, 2024, THIS reported a revenue of EUR 23,367,645.10 and an EBITDA loss of EUR 7,577,728.90. The revenue model centers around retail and foodservice sales, with products designed for easy access and bulk purchasing by retailers, while also catering directly to consumers.In June 2024, THIS raised EUR 23.6 mn in Series C funding from Planet First Partners. This funding will be utilized to support their growth in the UK market and to launch new products aimed at expanding their portfolio. The company plans to introduce additional innovative offerings to meet evolving consumer demands and strengthen its market position.

## Funding rounds

- Series C, Jun 17, 2024, $25M — Planet First Partners
- Series B, Oct 5, 2022, $11M — Kreos Capital, CJ Group, BGF Investment Management, Backed VC, Five Seasons Ventures, Lever VC, ECG Venture Capital
- Series A, May 1, 2021, $15M — BGF Investment Management, Backed VC, Five Seasons Ventures, CPT Capital, Lever VC, Mudcake
- Seed, Jan 9, 2020, $6.2M — Idinvest Partners, Seedcamp, Backed VC, Manta Ray Ventures, Five Seasons Ventures
- Seed, May 5, 2019, $1.8M — Idinvest Partners, Seedcamp, Manta Ray Ventures, Five Seasons Ventures

## Investors

- Idinvest Partners (https://capitalatlas.ai/funds/idinvest-partners) — Seed
- Seedcamp (https://capitalatlas.ai/funds/seedcamp) — Seed
- Manta Ray Ventures (https://capitalatlas.ai/funds/manta-ray-ventures) — Seed
- Five Seasons Ventures (https://capitalatlas.ai/funds/five-seasons-ventures) — Seed, Series A, Series B
- Backed VC (https://capitalatlas.ai/funds/backed-vc) — Seed, Series A, Series B
- BGF Investment Management (https://capitalatlas.ai/funds/bgf-investment-management) — Series A, Series B
- CPT Capital — Series A
- Lever VC (https://capitalatlas.ai/funds/lever-vc) — Series A, Series B
- Mudcake (https://capitalatlas.ai/funds/mudcake) — Series A
- Kreos Capital — Series B
- CJ Group — Series B
- ECG Venture Capital (https://capitalatlas.ai/funds/ecg-venture-capital) — Series B
- Planet First Partners (https://capitalatlas.ai/funds/planet-first-partners) — Series C