Market leader Huel raises £20 million from Highland Europe as the innovative company dubbed ‘The Future of Food’ continues to disrupt the food scene
Huel, a market leader of nutritionally complete powdered food has raised £20 million ($ 26 million) in funding from growth equity investor, Highland Europe, who have over €1 billion of capital under management and have previously backed leading consumer businesses such as MatchesFashion, GetYourGuide and WeTransfer. This marks Huel’s first external investment since launching in 2015. The new injection of capital will accelerate the launch of new products and further global expansion to support Huel’s vision of providing convenient, affordable and sustainable food.
UK-based Huel was co-founded in 2015 by experienced entrepreneur Julian Hearn, and renowned nutrition expert James Collier. Riding the tailwind of increasing global demand for nutritious yet convenient, complete food, Huel has successfully expanded into Europe and the USA. Huel has achieved explosive growth while remaining bootstrapped and profitable since day one. Huel has now sold over 25 million meals across 80 countries with a team of 65 based in the UK, LA and Berlin.
This new round of funding will enable Huel to accelerate their expansion into new territories and support the continued development of their innovative products.
As one of the fastest growing companies in the UK, Huel has revolutionised the way we consume food on a daily basis. As a portmanteau of ‘human fuel’, Huel offers consumers a diverse range of nutritionally complete foods in a convenient, affordable format, with minimal impact on animals and the environment. Being nutritionally complete means each product contains the recommended balance of protein, carbs, fibre and fats, plus all 26 essential vitamins and minerals needed on a daily basis. Huel aims to combat food wastage, estimated at 30%, and lack of understanding of what constitutes a healthy diet leading to growing health concerns related to heavy meat consumption and increased obesity.
Speaking of the investment, Huel’s co-founder, Julian Hearn said ‘Huel has been profitable since day one and is on track to triple turnover this year. In order to accelerate growth, expand our product portfolio and reach new markets, we decided to take external funding into the company. We’re excited that Highland Europe shares our vision and is now giving us the means and a wealth of experience to scale Huel into a global leader. These developments present a really exciting time for Huel and the ‘complete food’ category in general. We expect further innovation will follow as a consequence soon.’
Commenting on the recent investment, Stan Laurent, Partner at Highland Europe, says;
‘We knew that Julian and his team had created a special brand before even meeting them: people around us were raving about Huel. It’s a textbook example of the next generation of ecommerce businesses: a big mission and brand, innovative products and a superb business model. We’re looking forward to helping Julian and his team scale the business across the globe.’
Huel is catering to those who deem themselves time-poor but looking for a sustainable and healthy meals. With the growing global population projected to reach 9.7 billion by 2050, Huel is on its way of ensuring it becomes the Food of the Future, offering a sustainable solution for the current food supply chain.
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Founded in 2015, Huel is a nutritionally complete meal alternative that contains all the proteins, carbs, and fats you need, plus at least 100% of the European Union's "Daily Recommended Amounts" of all 26 essential vitamins and minerals. Founder, Julian Hearn, has a varied background from launching a successful internet promotional codes website to marketing for brands including Tesco.com, Starbucks and Waitrose. The brand is formulated by the renowned nutrition expert James Collier BSc (Hons), RNutr. James has over 25 years of experience working in nutrition and dietetics, including 7 years as a Clinical Dietitian in the NHS. He also has an Honours Degree in Nutrition with Dietetics.
Huel is 100% vegan (better for the environment and animals), super convenient, high in protein (148g per 2000 calories) and fibre (35g), contains just 4.6 grams of sugar per 2000 calories (no added sugar), requires minimal packaging and has a shelf-life of 12 months (so zero food waste). Huel Bars and Huel Granola are also available, formulated again by James Collier to offer consumers complete nutrition in a convenient format. www.huel.com
In 2018, Huel launched the world’s first nutritionally complete cereal. Available in two flavours, Original and Berry, Huel Granola is made from real food made with rolled oats, crunchy pea protein nuggets, sunflower seeds, flax-seeds, pumpkin seeds, chicory root fibre, brown rice syrup, raw cane sugar, coconut oil and fruit pieces (berry flavour) with added vitamins and minerals.
Huel Bars are made from carefully chosen ingredients including gluten-free rolled oats, pea protein and pea protein nuggets, brown rice protein, cocoa powder, date syrup, flaxseed powder, coconut oil, sunflower lecithin and added vitamins and minerals. Each bar contains 250 calories. The bars have been created to offer consumers a delicious, nutritious option to have whilst on-the-go, helping many fuel an active lifestyle.
About Highland Europe:
Highland Europe invests in exceptional growth-stage software and internet companies. Active in Europe since 2003 as Highland Capital Partners and formally launched in 2012, Highland Europe has raised over €1 billion and has invested in companies such as Adjust, Bitmovin, ContentSquare, Featurespace, GetYourGuide, Malwarebytes, MatchesFashion, NewVoiceMedia, Nexthink, Smartly.io and WeTransfer. Highland’s collective history of investments across the US, Europe and China includes 46 IPOs and 19 billion-dollar plus companies.
To learn more, visit: www.highlandeurope.com