NEW YORK — Neat Meat Burger Co. has raised $18 million in Series B funding to expand its Neat Burger plant-based restaurant concept in the United States and international markets.
Established in 2019, Neat Burger offers an entirely plant-based menu focused on premium ingredients served in compostable or biodegradable packaging. The brand’s signature patty is formulated with mung beans, quinoa and chickpeas. Additional items include vegan versions of grilled cheese, breaded chicken sandwiches, hot dogs and milkshakes, plus topped fries, crispy cauliflower wings, and spicy corn ribs.
Neat Burger operates a handful of restaurants in the United Kingdom and opened its first stateside location in New York in April. The company aims to add locations in Italy and the Middle East, having opened its first franchise in Dubai last year. Additionally, Neat Burger has formed partnerships with hospitality groups and businesses to further broaden its footprint.
“We see New York as a tastemaker gateway to the US, and by all metrics it has been our most successful launch to date,” said Zack Bishti, co-founder and chief executive officer. “New Yorkers have good taste and strong opinions, and we’ve been thrilled to see customers continually return. We’re at the heart of the growth in plant-based diets, and our proximity to the customer voice sets us apart. In response to the growing demand for cleaner ingredients, we’ve incorporated healthier options into the New York menu, while continuing to serve our growing community food that’s as sustainable as it is delicious.”
The Series B round was led by B-Flexion, a private institutional investment firm founded by Italian-Swiss businessman Ernesto Bertarelli, with participation from existing investors Formula One champion Lewis Hamilton and Chimera Capital, as well as new backers including LionTree, New Theory Ventures, Real Madrid goalkeeper Thibaut Courtois and model and actor Sara Sampaio. Actor Leonardo DiCaprio previously invested in Neat Burger.
“We are thrilled to have reached this major milestone in Neat Burger’s journey with a successful fundraise from previous investors alongside an impressive group of new investors,” said Tommaso Chiabra, co-founder of Neat Burger. “This is a pivotal moment for our business, and it allows us to accelerate our growth plans. With the successful launch of our New York location and record first quarter under our belt, we have demonstrated the strength of our brand and are now well-positioned to bring our award-winning plant-based food to the growing number of consumers in the US and worldwide who are embracing a healthier and more flexitarian lifestyle.”
Mr. Bertarelli’s daughter and recent Harvard University graduate Chiara Bertarelli has been named sustainability adviser for Neat Burger.
“I love how Neat Burger is on a mission to make plant-based eating more accessible to everyone,” Ms. Bertarelli said. “Our generation is paving the way and driving this change, with research showing once Gen-Z adopt a vegan or flexitarian diet, 70% stick with it. So, the key is getting people to try it and integrate it into their daily lives. First impressions count, and Neat Burger’s approach, combining fun and sustainability, has the potential to change the world.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
