STRAY DOG CAPITAL, A U.S. BASED VC FIRM AND LEADER IN THE ALTERNATIVE PROTEIN SPACE, HAS INVESTED INTO AN AUSTRALIA BASED COMPANY FOR THE FIRST TIME. THE COMPANY, DELICIOU, PRODUCES SHELF-STABLE PLANT-BASED MEAT PRODUCTS THAT ARE CLEAN LABEL AND NUTRITIOUS.
Stray Dog Capital, a venture capital fund based in the U.S. and specializing in alternative protein investing, today announced that it has invested into Deliciou’s seed round—making the startup the first Australia-based company to join the firm’s portfolio of industry leaders in the plant-based space.
The startup was founded five-years ago by Kjetil Hansen when he created a vegetarian bacon seasoning to make transitioning to a plant-based diet more manageable. The seasoning quickly gained popularity organically, but it was when Hasen pitched on Shark Tank Australia in 2017 that business really took off. After several years of consistent growth, the company rebranded to Deliciou in January 2020 and launched their first plant-based meat product; a shelf-stable chicken alternative with flexible preparation options. In the months following, Deliciou has launched plant-based alternatives to chicken, beef, and pork, as well as several pre-seasoned veggie meals. These are available on the Deliciou e-commerce store, and each product boasts a clean ingredient deck, high fiber, and high protein content with low fat and calorie counts.
“We found that store-bought plant-based meats often had high levels of salt, sugar, and other nasties, which made a lot of people stay away from the category,” says Hansen. We wanted to create a healthy alternative. By making the Deliciou plant-based meats from dehydrated plant proteins, we eliminated the need for preservatives, salt, and sugar which made more room for plant proteins and fiber”.
The online-first approach of Deliciou and the company’s focus on shelf-stable products positions it well for rapid growth through the final months of the pandemic and during the global recovery period. According to results from a recent survey conducted by the Consumer Brands Association (CBA), the leading trade association for the consumer packaged goods industry, 77-percent of consumers who ordered their groceries online during the pandemic plan to continue doing so. In addition, 45-percent of surveyed consumers plan to purchase and store more shelf-stable food at home.
“When we launched the Deliciou Plant-Based Chicken in early 2020 we sold out in the first week, and since then we have been working on expanding our distribution to the U.S., Europe, and Asia. We are currently rolling out the full range of plant-based meats into the Whole Foods Market and have several major retailers launching the Deliciou range in the next few months. The investment from Stray Dog Capital and others has helped unlock our full potential and allow us to produce more inventory and expand the distribution globally,” said Hansen.
Since 2014, Stray Dog Capital has been investing in early-stage startups that are working to create a healthier, humane, and more sustainable food system, with a focus on the alternative protein space. They are joined in this investment round by Adam Levis, former Managing Director of McKinsey Australia and New Zealand; Peter Osborne, the former Managing Director of Blackmores Asia; and Leigh Jasper and Rob Phillpot, founders of Aconex. Deliciou will use the funds to drive growth in the company and invest in new product development.
“The shelf-stable alternative meat category has been an area of interest for us for some time,” says Johnny Ream, Partner at Stray Dog Capital. “Deliciou not only delivers on taste but also in terms of its cleaner nutritional profile—that impressed us.”
Deliciou is the latest forward-looking startup supported by Stray Dog Capital, which continues serving as an important platform for entrepreneurs looking to improve our food system and our planet.
For more information, please visit www.straydogcapital.com and www.deliciou.com.
About Stray Dog Capital
Stray Dog Capital is a venture capital fund investing in innovative, early-stage companies across the food, beverage, and biotechnology sectors that are driving a healthier, humane, and more sustainable future. Stray Dog Capital supports its portfolio of investments with broad experience from its team as entrepreneurs, operators, advisors, and investors. www.straydogcapital.com
About Deliciou
Deliciou makes a range of plant-based meats, meal bases, and seasonings available online and through popular retailers such as Whole Foods Market. At heart, Deliciou is on a mission to make plant-based food accessible and delicious so that everyone can eat more plants. The company was founded in 2015 by the university drop-out Kjetil Hansen (CEO), who developed the first product from his kitchen table. Deliciou has become the leading digital plant-based brand selling direct to consumers from their website www.deliciou.com and physical operations in the U.S., Australia, U.K., and E.U.
