Vegan meals Wodonga: v2food funding helps plant-based meat factory completion
They supply plant-based products to fast food giants Hungry Jacks and Burger King, as well as Marley Spoon and Dinnerly, now this veggie meat producer is bringing jobs to the country.
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A plant-based food company has received $77 million in cash which will help to finish building its $20 million Wodonga factory.
Nine investors from around the world contributed the extra funds.
In December 2019, v2food announced it had bought a 55,470sqm Moloney Dr, Wodonga, site which would be home to the company’s factory for plant-based meat products.
v2food provides plant-based meat burgers to Hungry Jacks, Burger Urge and Burger King, as well as providing plant-based meat products to Marley Spoon and Dinnerly.
v2food products are also available at Woolworths.
Originally expected to begin operations in mid-2020, the opening of the Wodonga facility was delayed due to COVID-19, but the factory is expected to be up and running in coming months.
When the factory opens, it will employ about 50 people to start, with plans for expanding jobs in the future.
v2food founder and CEO Nick Hazell said the Wodonga factory would be a pivotal step towards the company’s goal of transforming the way the world produces food.
“It’s imperative that we continue to scale quickly because this global issue needs an immediate solution,” Mr Hazell said.
“As we enter our next phase of growth, we are grateful to have the support of world-renowned investors who share our urgent mission of solving the global food challenge.”
v2food investors include ABC World Asia, Altitude Partners, China Renaissance, Esenagro, Horizons Ventures, Main Sequence Ventures, Marinya Capital, Novel Investments, Sequoia Capital China and Temasek.
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