Australian food start-up Pimp My Salad has partnered with crowdfunding platform Equitise to raise up to AU$500,000 – aiming to accelerate its growth and establish itself as a pantry staple.
The start-up expects a 75 per cent growth in the next year and a half and plans to expand to the UAE, New Zealand and parts of Europe.
Established in 2014 by MD Olga Plotnikova and her partner Alex Komarov, the company offers healthy meal toppers such as seeds, croutons, sauces, and sprinkles made from whole foods to provide customers with short, transparent ingredient lists. Its bestsellers include Activated Superseeds, meat-free Coconut Bacon, Cashew Parmesan and Hemp Parmesan.
After launching a nationwide distribution to independent grocers in 2018, the Byron-Bay-born and based business began branching into supermarkets including Coles, Woolworths, and Harris Farm Markets by June last year.
In 2019, the brand expanded overseas and has grown a network of stockists in the UK, where it is listed in 500 stores, including Holland & Barret, Mindful Chef and other health-food stores.
The company said its success is based on its performance, with a steady average annual revenue growth of 35 per cent and positive earnings before interest, tax, depreciation, and amortisation.
Today, Pimp My Salad can be found in more than 1700 stores across Australia, with 75 per cent of sales in Australia and 25 per cent in the UK and other markets. It has already sold more than one million products worldwide.
This story first appeared on our sister publication Inside FMCG
