Vancouver’s Vegano, Canada’s first 100% plant-based meal-kit delivery service has completed a $4.2 million Series A fundraising round.
Vegano will use the funding towards its go-to-market strategy, business development and marketing efforts, accelerating new product development, and preparing for the launch of its vegan marketplace this coming April.
The investment round brings Vegano’s funding to $6 million since it was founded in March 2020 and its post-money valuation to $14 million. Initially, Vegano aimed to raise $2 million but exceeded that amount by more than double in the oversubscribed financing round.
Vegano officially launched its service in January and has delivered over 2,000 of meals across Metro Vancouver, Squamish, and Whistler.
“Our goal is to make high-quality plant-based food more accessible to the general public,” says Conor Power, Founder and CEO of Vegano Food. “With the launch of our marketplace, Vegano members will be able to order everything from ready-made soups and sauces to vegan protein powder.”
The company is expanding its services to Toronto, Montreal, and L.A. later this year with plans to list with a non-offering prospectus on the TSX Venture Exchange or Canadian Securities Exchange.