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THIS™’s deadline was August 4, 2022

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Logo of THIS™

THIS™

The fastest growing plant-based food brand in the UK — a co-listing with Seedrs
Food Plant-Based Food & Drinks
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Featured image of THIS™
This is an SPV deal. See fees.
Round
Series B
Valuation
£150M
Allocation
$2M
Minimum investment
$1,000
Instrument
Preferred Equity
Deadline
August 4, 2022
Invest in THIS™

Open for investment

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Co-investors
BACKED VC
Investors in Hutch, Gumbug, JukeDeck
Founded in 2015 by partners Andre de Haes and Alex Brunicki, BACKED VC investS across sectors including BioTech, Entertainment, Financial Services, Industry 4.0 and more. Investments to date include Hutch, Pollen, Thought Machine, LabGenius, THIS, Enterprise Alumni, and many more.
CPT Capital
Investors in Upside Foods, Miyoko’s Kitchen, Legendairy Foods,
CPT Capital is an investment firm that invests in visionary founders. Their mission is to drive the food and materials technology revolution by replacing animals in the supply chain.
Lever VC
Investors in Marvelous Foods, The Better Meat Co, and THIS
Lever VC is a venture capital fund that makes early stage investments in alternative protein companies.
Pitch Updates 5
Questions? (855) 668-2575
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Closed on August 4, 2022. Information may not be up-to-date. Campaign closed on August 4, 2022. Information displayed may not be up-to-date.
Revenue Product Traction Awards Customers Market Competition Vision and strategy Use of funding Founders Disclaimers

Documents

Republic Deal Room Advisor (Republic Deal Room Advisor LLC, CRD# 31568) is hosting this Reg D 506(c) securities offering by THIS I, A Series of Republic Deal Room Master Fund, LP.
Company documents
Subscription Agreement THIS I LPA.pdf THIS I PPM.pdf
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Investment summary


$10M revenue
Company had over $10M in revenue in the past 12 months
$25M+ raised
Company has previously raised over $25M in capital
Leading VC-backed
Company is backed by a leading VC firm

Hello from the UK! THIS™ was created when the two founders (Andy & Pete) checked out meat-free food, and decided that they didn’t really like any of it. After successfully exiting their meat-based restaurant business, Chosen Bun, they set out to make hyper-realistic plant-based food that mimics meat in taste, texture and appearance.

Launched in 2020,  THIS™ has secured 10,000+ retail distribution points, in almost all major UK retailers, with their product rate of repeat purchase being nearly double the category average. THIS™ has partnered with many of the UK’s foremost restaurant and hospitality chains, like Caffè Nero, Honest Burger, Prezzo, Premier Inn. The Company has hit an annualized revenue of £17.5M, with 333% YoY growth in UK retail.

THIS™ is a parallel offering with Seedrs, a Republic family member. This is a Special Purpose Vehicle (SPV) to invest in the £15M Series B Round of THIS™. 

  • Hit £17.5M annualized revenue by January 2022, after 2.5 years of launch
  • Fastest growing-plant based food brand in the UK with 333% YoY growth
  • 10,000+ retail distribution points in all key UK retailers
  • Partnerships with UK's flagship chains (e.g., Caffe Nero, Honest Burger)
  • 74% Net Promoter Score; product repeat rate double the category average
THIS™ wants to lead Europe’s transition to plant-based food. In the near future, the brand will be expanding from just meat alternatives, by creating plant-based alternatives to other popular animal based foods.

Revenue


Product


THIS™ IS WHAT WE MAKE

THIS™ does not play around when it comes to their research and development. The Company is investing £3M into an R&D center (so called 'animal retirement home’), to be completed this summer. Their Innovation team includes 3 PhDs, several engineers, food technologists, and project managers. According to the Company, they make their plant-based food so close to real meat products, that consumers would often write in after a THIS™ meal and not realize that THIS™ is not animal-based meat. All products are fortified with vitamin B12 and iron, so everyone has a great meal without nutrient FOMO either.


"We even had a 2 star review on a supermarket site last wk from a lady called Laura, because ‘..the sausages mimic the taste and texture of pork and it’s off-putting for vegetarians’. Cheers Laura." — THIS™.

THIS™ makes food so good they wanted to patent it. No, seriously. THIS™ has filed 3 patents in total, most notably for FAT 2.0™, their plant-based version of animal fat, using olive oil as the predominant ingredient.

As they wait for their patent approval, THIS™ picked up some awards. Just because...

Traction


According to the team, it is getting increasingly difficult to walk into a place where food is present in the UK and not see a THIS™ product. THIS™ is winning in foodservice, having partnered with a wide selection of the UK’s most well-known chains, like Caffé Nero, Honest Burger, Premier Inn, Prezzo, ASK etc.

Around 95% of THIS™ foodservice partners call the Company out by name on their menus. That helps raise the brand-awareness, and compliments the retail range too. 

Say you are staying in for a home cooked meal? Drum up some delicious THIS™ caramelized onion sausages and surf the news to read more about THIS™ — the Company is all over the press. The omnipresence makes THIS™ front-and-center of customers' mind, fortifying its status as the fastest growing plant-based food brand in the UK.


Awards


THIS™ makes food so good they wanted to patent it. No, seriously. THIS™ has filed 3 patents in total, most notably for FAT 2.0™, their plant-based version of animal fat, using olive oil as the predominant ingredient.

THIS has also won countless awards for Innovation, taste and Marketing.

Customers


1 in 5 people in the UK has heard of THIS™ 

Take a walk through THIS™'s website and you may see why consumers love THIS™. Whoever works there seems like they might just be a couple of fun blokes to hang with — THIS™ and their consumers are always having a good time.

Prefer to meet in real life? So does the THIS™ team! With most of their explosive growth happening during the pandemic, THIS™ is just getting started with getting their products out there. Next time you are at a game, question your taste buds when you order a hot dog. THIS™ might not be meat, not that THIS™ is anything to complain about.

Market


Whether you eat meat, there is no denying that the plant-based market is growing. Exponentially. According to a Kantar survey, 55% of British consumer want to reduce their meat consumption, and 79% of younger people aspire to go meatless once or twice per week. Accordingly, the plant-based market is growing at 17.4%, twice as fast as the meat market. This is not to mention the market outside the UK, which is undoubtedly next in THIS™'s roadmap for attempting to dominate. Think Europe, and also US.

Not only is THIS™ quietly enjoying the market growth, the Company is actively growing the category. Consumers previously without exposure to plant-based products are extremely more likely to purchase them again upon trying THIS™. THIS™ happens when you have 3 PhDs and a £2M R&D center making your food.

Competition


THIS™ is the fastest growing plant-based food brand in the UK, with 333% YoY growth in UK retail in 2021, triple the growth rate of the next fastest competitor (some of them are losing market share, wonder where THIS™ is going). 

Vision and strategy


THIS™ has a clear vision for growth. Beyond what has already been said so far about its product development and marketing, the Company has a clear vision in mind when it comes to increasing their margin:

  1. After 9 months of negotiating, THIS™ signed a contract in February 2022 with a UK based manufacturer who will produce a significant proportion of their volume moving forward. The contract has pricing baked into it, unlocking significant GP% savings.
  2. THIS™ has elected to not build their own factories, to keep their agility and save on capex costs.
  3. THIS™has invested in buying their key manufacturing equipment, housed and operated exclusively for THIS™ by their new UK manufacturing, promising to further cut down costs.
  4. This has only had a procurement function for 5 months. Due to their explosive growth, THIS™ hopes for this procurement function to help them pick better raw ingredients, at even a lower cost.

Use of funding


Founders


The Company is also recruiting. Having fun checking this page out? Come join, they are growing fast and not shy about wanting more folks!From this.co/jobs

Disclaimers


In addition to the carried interest Republic Deal Room Advisor LLC is entitled to for the syndicated investments it organizes, certain principals of Republic Deal Room Advisor LLC may have a personal interests in these investments, as disclosed below. When making an investment decision please review any applicable disclosures as they represent pre-existing financial interests held by those principals of Republic Deal Room Advisor LLC.

We do not represent that the information contained herein is accurate or complete, and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. Certain information contained herein (including any forward-looking statements and economic and market information) has been obtained from and/or prepared by the Company or other third-party sources and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Republic Deal Room Advisor LLC does not assume any responsibility for the accuracy or completeness of such information. Republic Deal Room Advisor LLC does not undertake any obligation to update the information contained herein as of any future date.

Documents

Republic Deal Room Advisor (Republic Deal Room Advisor LLC, CRD# 31568) is hosting this Reg D 506(c) securities offering by THIS I, A Series of Republic Deal Room Master Fund, LP.
Company documents
Subscription Agreement THIS I LPA.pdf THIS I PPM.pdf
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THIS™

THIS™ successfully raised $135,500 from 40 investors on August 4, 2022
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