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Power Law company profile

Allplants

eCommerce & Marketplaces · London, United Kingdom · Founded 2016

Allplants operates as a plant-based meal delivery service, preparing and delivering frozen, chef-made vegan meals directly to consumers across the UK. The company was founded in London in 2016 by brothers Jonathan and Alex Petrides. The founders' inspiration stemmed from their personal shift to a plant-based diet and the realization that while the diet had health and environmental benefits, convenient and flavorful options were lacking. Jonathan, the CEO, has a background in building ventures, including Penda Health in Kenya, while Alex previously worked at Propercorn, contributing to brand and team building. The company's core business revolves around a direct-to-consumer (DTC) subscription model, which provides a recurring revenue stream. Customers can choose the number of meals and delivery frequency, with options ranging from weekly to every six weeks. Allplants also accommodates one-off purchases. To expand its market presence beyond the initial DTC channel, the company has transitioned into an omnichannel business, establishing retail partnerships with stores like Ocado and foodservice channels since 2022. The product line includes a variety of ready-made meals, sides, breakfasts, desserts, and smoothies. All meals are chef-prepared in the company's own London-based kitchen, flash-frozen to preserve nutrients and reduce food waste, and then delivered to customers' homes. The target market is broad, encompassing not only vegans and vegetarians but also a significant segment of 'plant-curious' or flexitarian consumers, including health-conscious individuals, busy urban professionals, and families seeking convenient meal solutions. In its first year, over 60% of subscribers were not vegan or vegetarian. A key aspect of the company's value proposition is its commitment to sustainability; Allplants is a certified B Corporation, utilizes recyclable packaging with a returns scheme for reuse, and partners with a carbon-neutral delivery service. The company has achieved significant milestones, including raising a record-breaking £38 million Series B funding round in 2021 and serving over one million meals within its first three years. Despite its growth and substantial funding, the company has faced financial challenges, including mounting losses and entering administration in late 2024 to explore restructuring options. Keywords: plant-based meals, meal delivery, subscription service, vegan food, direct-to-consumer, frozen meals, sustainable food, B Corp, food technology, ready meals