Healthy doughnut start-up Urban Legend secures £3M in seed funding to expand the business
Urban Legend, owned by former Graze CEO Anthony Fletcher, has received financial backing to help expand their new doughnut start-up, whose USP is that they are low in fat, sugar, and calories.
The money will allow the brand to build a test lab in West London where they can make the doughnuts and try out new product formulations.
Some of the biggest investors in the company include Eka, who work with businesses striving to make positive changes with regards to health, sustainability, and inclusivity. Backing also came from Guy’s & St. Thomas’s Foundation, and the Good Food Fund, who are supported by Big Society Capital and Impact on Urban Health.
The venture capital fund, JamJar Investments also invested in Urban Legend. The fund was created by Innocent Drinks and Samos Investment founders. Angel investors include former head of Pret a Manger Clive Schlee, Jamie Mitchell, Will Neale and Chris Britton.
Urban Legend was launched in August with the opening of their first shop in Brighton Lanes and on Uber Eats and Deliveroo.
Urban Legend worked with UK scientists and bakers to create the healthier doughnuts. The experts tested out novel starch and protein technologies to allow the doughnuts to be steamed instead of fried. This preparation allows them to contain only 160 calories, as well as having over half less sugar and just under half less fat than regular doughnuts on the market.
Andrew Dougal, previously Supply Chain Team Leader at Innocent, and Fiona Cramp, who used to work for The Collective and Eat., are part of the small team of 10 people at Urban Legend.
The company plans to open two more shops in London, one ins Croydon and a second in Clapham Junction.