Farmstand, a London-based, plant-powered food company, has raised $3 million in a Series A financing round. The investment was led by London-based Kindred Capital. Farmstand offers healthy food that can be ordered online or purchased at a growing number of physical locations.
"Eating a plant-powered diet increases your chances of living a happy, active life," explains Farmstand founder Steven Novick. "And despite the fact that food has never been easier to find, order or have delivered, most people simply don’t have access to convenient, legitimately healthy food. We’re changing that."
Novick founded Farmstand in 2016 after surviving cancer and climbing Mount Everest. "I made three clear goals to myself before I was given the all clear: to become closer to family and friends, to finish climbing the Seven Summits and to build a business that made healthy, sustainable food accessible to everyone, not just the wealthy.’‘
"We have a restaurant, but essentially we’re a food business. Restaurants don’t change lives, but food absolutely does. This ties in with our mission to get plant-powered food on every desk and in every home,’ continues Novick. "We’re aspiring to grow our online sales from 30% to 50% of total revenue by investing in our technology and converting more offline customers into online buyers."
The startup strives to be a social enterprise beyond just providing healthy food.
"Farmstand has never sold single-use plastic water bottles and never will. Every team member also owns equity in the business, we operate a gender-balanced Board and team and the highest paid person is paid just 2.5 times the lowest paid person," said Novick.