allplants secures £38m in Series B funding led by Draper Esprit to scale production and expand its team.

London-based plant-based food company allplants has secured £38m in a Series B funding round led by Draper Esprit. The financing represents the largest Series B raise for a European plant-based food business to date and follows previous crowdfunding and Series A campaigns. The company will direct the capital towards expanding its production kitchen in Walthamstow, scaling distribution channels, growing its team across multiple departments, and developing new product categories.

The round attracted participation from new backers including The Craftory, TriplePoint Capital, and several individual investors, alongside existing supporters Felix Capital and Octopus Ventures. The business has experienced rapid revenue growth over three consecutive years, driven by increasing demand from flexitarian consumers.