Post Malone’s Venture Company Invests in Plant-Based Burger Company
Is Post Malone going plant-based? Maybe not, but the rapper just proved that he's betting on the future of plants after his venture company invested in the alternative protein company Actual Veggies as the company closes its latest funding round. The plant-based company just secured $2.3 million in funding from Post Malone’s venture capital firm Electric Feel Ventures, Big Idea Ventures, Rose Street Capital, and professional soccer player Kieran Gibbs, among others. The funding round brings the company’s total valuation to $2.8 million following both this funding round and its previous investment package from Big Idea Ventures.
“Since we launched the company, it’s been an incredible whirlwind and despite the challenges of 2020, we made it a reality,” Co-founder and Co-CEO of Actual Veggies Hailey Swartz said. “The growth we have seen over the past few months far exceeded our expectations as we expanded nationally with partners including Sprouts Farmers Market, HungryRoot, Imperfect Foods, Sunbasket, QVC, and FreshDirect. We are humbled by our new partners’ shared excitement and look forward to building off our success to further scale Actual Veggies.”
Actual Veggies’ Veggie-Only Burgers propelled the plant-based company into the vegan market, joining other plant-based giants such as Beyond. The Veggie-Only Burger comes in four varieties including the Actual Purple Burger, The Actual Orange Burger, The Actual Black Burger, and The Actual Green Burger that all contain a heavy list of nutritional ingredients. The company boasts that its burger alternatives provide far more nutritional value than a typical meat-based burger or even plant-based patty.
The company plans to use this funding round to accelerate its productions and distribution facilities, pushing its product to more retailers across the US. The funding package will also allow the company to expand its research and development to create more plant-based offerings that will include seasonal and limited-edition products. Actual Veggies will maximize its advertising efforts to spread both its consumer outreach and accessibility for plant-based consumers. Electric Feel Ventures’ involvement will assist in the company’s expansion effort.
“Electric Feel sits at the epicenter of development across music, brands, and culture. We are dedicated to elevating authentic individuals and brands,” Electric Feel Ventures founder Austin Rosen said. “It goes without saying, in the entertainment business what you see isn’t always real, and let's be honest, it isn't much different in the food space. But Actual Veggies is real—real food, real flavor, really good! We are excited to back Actual Veggies and the team behind this exciting new brand.”
Actual Veggies holds a different mission than other plant-based burger companies, where instead of trying to replicate the taste of meat, the company develops its products to taste like the vegetables used to create it. The burger patties will take on the flavor of the mixture of ingredients with no fillers or preservatives, presenting a healthy product packed with colorful and flavorful vegetables.
“We initially invested in Actual Veggies because we knew they had a great concept that would fill a significant gap consumers and retailers were looking for, a plant-based burger that not only tastes great but is actually clean and healthy,” Founder of Big Idea Ventures Andrew D. Ive said. “In just under a year, Actual Veggies has delivered tremendous growth with its clean, healthy, and fresh veggie burgers that fill the void. Actual Veggies is in a whole new category of its own.”
Alongside Post Malone, Actual Veggies is supported by Gibbs - the three-time FA Cup champion. Although not outwardly vegan, Gibbs repeatedly supports and funds the plant-based market. The English soccer player announced his support for the vegan chicken brand TiNDLE earlier this year. Now, Gibb highlights how plant-based food is the future for the environment, nutrition, and himself.
“As a professional athlete, I've been keeping tabs on the growth of the plant-based category,” Kieran Gibbs said. "Actual Veggies far surpassed my expectations—both in the product's flavor and quality, and I knew immediately that I could get behind this product—and I did.”