DTC’s Daily Digest brings you the latest news on the world’s fastest growing direct-to-consumer and challenger brands. In today’s edition: Butternut Box raises £20m less than a year after last raise; allplants raises £2m in 48 hours on Seedrs; and Eloquii partners with Ella & Oak.
Butternut Box raises £20m less than a year after last raise
Butternut Box, a London-based fresh dog food business, has secured further investment from backers less than a year after raising £15m.
Although no financial details of the latest investment have been disclosed, industry sources estimate it to be worth about £20m. This would bring total investment to date to £41m.
The Series C funding round was led by the European arm of L Catterton, a USD $20bn private equity firm co-founded by luxury-goods maker LVMH Moët Hennessy Louis Vuitton, that has made more than 200 investments to date.
Other backers of the company include White Star Capital, Five Seasons Ventures, Passion Capital and Literacy Capital.
Butternut’s success is partly a result of the technology platform it developed, which uses computer algorithms to work out the individual needs of each dog with dishes cooked made from fresh ingredients and portioned according to a pet’s breed, weight, sex and exercise routine.
allplants raises £2m in 48 hours on Seedrs
The London company, which delivers frozen chef-cooked meals around the UK, is undertaking a larger institutional Series B funding round later this year as it looks to tap into the growing demand for vegan and plant-based food options.
The Seedrs funding comes largely from its own customers, but also from more established investment groups. AllPlants’ investors to date include venture capital firms, Octopus Ventures, Felix Capital, and Seek Ventures, and the founders of JustGiving and Bulb Energy.
Since the company’s launch in 2016, it has served almost one million meals, but the funding is for accelerating its growth in the UK, and taking the proposition internationally. Over the next 12 months, the investment will be used to develop new food categories, and by 2025 the aim is to develop distribution partnerships, launch in leading UK retail stores, and open up to new markets in Europe and North America.
Eloquii partners with Ella & Oak
Eloquii has made its first foray into the bridalwear market. The popular retailer specialising in women’s clothing sized 14 to 28 partnered with bridal retailer Ella & Oak. The collaborative effort will see a series of bridal “pop-in” shops in four key Eloquii locations.
Starting February 28, Eloquii will host Ella & Oak styles in a traveling roadshow, with each stop lasting for a weekend. The first pop-in will be in Atlanta, followed by Washington DC, New York City and concluding in Philadelphia.
“Eloquii is all about catering to what our customer needs and we love working with other brands and developing exciting partnerships that provide options for our customers,” explained Mariah Chase, CEO of Eloquii, in a statement. “There is a natural synergy between our two brands, and we’re excited to bring Ella & Oak’s bridalwear to the Eloquii community.”
Ella & Oak’s co-owner, Christine Callahan, added, “We admire Eloquii’s commitment to the plus size woman by creating clothes that empower and allow her to express herself. This is what we are doing across bridal, and a partnership seemed like the perfect marriage of brands.”
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