Betting big on the future of plant-based foods, American rapper Post Malone has invested in a veggie-only burger company from New York City through the venture arm of his management team Electric Feel Ventures.
The company Actual Veggies has secured a total $2.3 million in the new funding round, which also saw participation from Big Idea Ventures, Rose Street Capital, three-time FA Cup champion Kieran Gibbs, among other strategic investors.
This new investment takes the company’s total funding to $2.8M till date.
“Since we launched the company, it’s been an incredible whirlwind and despite the challenges of 2020, we made it a reality,” said Hailey Swartz, Co-founder, and Co-CEO of Actual Veggies. “The growth we have seen over the past few months far exceeded our expectations as we expanded nationally with partners including Sprouts Farmers Market, HungryRoot, Imperfect Foods, Sunbasket, QVC, and FreshDirect. We are humbled by our new partners’ shared excitement and look forward to building off our success to further scale Actual Veggies.”
Actual Veggies will use the new capital to expand its product range, boost and streamline production and strengthen its marketing efforts to increase brand awareness. The company currently offers four different variants and is already working to expand offerings, including seasonal, limited-edition products, and more.
“Electric Feel sits at the epicenter of development across music, brands, and culture. We are dedicated to elevating authentic individuals and brands,” said Austin Rosen, Electric Feel Ventures founder. “It goes without saying, in the entertainment business what you see isn’t always real, and let’s be honest, it isn’t much different in the food space. But Actual Veggies is real—real food, real flavor, really good! We are excited to back Actual Veggies and the team behind this exciting new brand.”
What makes Actual Veggies different from other plant-based burgers in the market is that these are not trying to replicate the taste of meat, but are made of actual vegetables and legumes. The idea of the company is to let “the natural flavors and nutritional value of real, actual vegetables and legumes speak for themselves.”
According to the company, every Actual Veggies patty is filled with wholesome, veggie-only ingredients that give the patties their vibrant, natural colors and satisfying taste, without any fillers or preservatives.
“We initially invested in Actual Veggies because we knew they had a great concept that would fill a significant gap consumers and retailers were looking for, a plant-based burger that not only tastes great but is actually clean and healthy,” said Andrew D. Ive, Founder of Big Idea Ventures. “In just under a year, Actual Veggies has delivered tremendous growth with its clean, healthy and fresh veggie burgers that fill the void. Actual Veggies is in a whole new category of its own.”
Actual Veggies was founded in March 2020 and is trying to create a niche for itself in the plant-based protein industry with its line of veggie-only burgers. The varieties it currently offers are – The Actual Black Burger, The Actual Orange Burger, The Actual Green Burger, and The Actual Purple Burger.