Welldone

Welldone is a Russian producer of plant meat. The company's range includes burger and mince cutlets, which by July 2021 are quite widely represented in large retail chains in Russia.

In 2019, the startup was founded by a team of several former employees of the Nizhny Novgorod Oil and Fat Plant, headed by his ex-head of the business process reengineering department Alexander Kiselev.

The product line includes homemade cutlets, burger cutlets and mince. Among the company's partners are large retailers, retail retail and restaurant chains in Russia, Belarus, Kazakhstan, including: Ribbon, Ashan, ABC of Taste, Samokat, Yandex.Shop, TGI Friday's, Black Star Burger, Burger Club.

History

2021: Attracting $1.5 million of investments

In mid-July 2021, it became known about the investment of $1.5 million in Welldone. The Russian fund Phystech Ventures and the international Lever VC invested in the company. Investor shares, as well as the estimated value of Welldone, are not disclosed.

The attracted investments are planned to be spent on expanding the product line and creating a new production complex. The founders plan to increase distribution in Moscow and the regions and international expansion.

Russian plant meat producer Welldone attracted $1.5 million in investments

According to Forbes, citing the investment director of Skolkovo Vents, Sergei Sobolev, in similar rounds, investors take about 15-25% of the company. Given the early stage of project development, its assessment before receiving money can range from 5 to $7 million. Sources close to the company confirmed that this assessment is close to the truth.

The popularity of alternative meat is growing around the world, says Anna Gishko, principal of Phystech Ventures, which invested in Welldone. In Russia, according to him, the trend for "green" meat is only being formed and will reach comparable with American turnover after several years.

In addition to Welldone, plant meat in Russia by mid-July 2021 is produced by Greenwise, Not Meat, Naro-Fominsk meat processing plant, Vega, Efko and others. In addition, the products of the large American company Beyond Meat are presented on the Russian market.^[1]

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