Huel, a UK-based maker of powdered food, raised £20m ($ 26m) in funding.
The investment was made by growth equity firm Highland Europe.
The company intends to use the capital to accelerate their expansion into new territories and support the continued development of their innovative products.
Co-founded in 2015 by entrepreneur Julian Hearn, and nutrition expert James Collier, Huel is a nutritionally complete meal alternative that contains all the proteins, carbs, and fats people need, plus at least 100% of the European Union’s “Daily Recommended Amounts” of all 26 essential vitamins and minerals.
Huel is 100% vegan, high in protein (148g per 2000 calories) and fibre (35g), contains just 4.6 grams of sugar per 2000 calories (no added sugar), requires minimal packaging and has a shelf-life of 12 months (so zero food waste).
In 2018, the company launched Huel Granola, available in two flavours, Original and Berry, and made from real food made with rolled oats, crunchy pea protein nuggets, sunflower seeds, flax-seeds, pumpkin seeds, chicory root fibre, brown rice syrup, raw cane sugar, coconut oil and fruit pieces (berry flavour) with added vitamins and minerals.
Huel has now sold over 25 million meals across 80 countries with a team of 65 based in the UK, LA and Berlin.