Vegan frozen food is booming and this startup is riding that wave and making a rapid expansion into the US market.
Irish company Strong Roots, founded in 2015, just secured $18.3 million in Series A funding from private equity firm Goode Partners, previously an investor in brands like Supreme and La Colombe. The fund raise will help the company expand into the US via distribution into 3,000 stores including Walmart, Wegmans and Whole Foods.
The company expects retail sales of $50 million this year and is on track for sales of $300 million by 2023. Strong Roots products are already sold across the UK and Ireland and was founded by Irish entrepreneur Sam Dennigan.
“The market for plant-based food is a rising tide,” Dennigan told Business Insider in an interview. “Previous frozen food needed disruption and we’re glad to have investors who are ambitious and understand the scope of our business.”
You can see the 46-slide pitch deck that secured Goode Partners’ investment here: