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Huel scoops £20m ahead of US push in Idris Elba-backed round

Huel CEO with Idris Elba
Image credit: Huel

Plant-based nutrition company Huel has secured $24m (£19.8m) in funding at a valuation of $560m (£461.3m), with Idris and Sabrina Elba among the backers.

The round was led by Highland Europe with contributions from broadcaster Jonathan Ross and TALA CEO Grace Beverley.

Idris Elba, said: “I’ve been a Hueligan for several years now, starting my journey while preparing for my role in Thor, so to come on board with Huel was an easy decision. I believe in their mission to deliver nutritionally complete food, sustainably.”

Launched in 2015, Huel creates food and drinks that contain a mix of protein, carbs, fibre, essential fats and phytonutrients.

Huel will use the fresh funding to further its global rollout, with an emphasis on the US.

James McMaster, CEO of Huel, said: “Our investors have all expressed their belief for what we are trying to achieve at Huel – making nutritionally complete, convenient, affordable food, with minimal impact on animals and the environment.

“We are trying to change the way the world thinks about food and Huel offers a solution to help people make easy changes to their food choices.”

Based in Hertfordshire, the company says it has sold more than 270 million meals and its revenue in the year to the end of July was $170m (£140m).