San Francisco, CA—Thistle announced in a press release that it has completed a $5.65 million Series A round of financing led by PowerPlant Ventures (PPV). PPV Managing Partner Dan Gluck will join Thistle’s Board of Directors.
The investment will help Thistle build out a new facility to expand capacity and support growth, to aggressively accelerate its marketing efforts, and to reach customers in new geographies and distribution channels. This latest round of financing brings Thistle’s total financing to $15.7 million since inception.
PPV is a growth equity fund based in Los Angeles that provides capital, strategic support, and operating expertise to plant-centric brands. Previous investments include Beyond Meat, Thrive Market, Rebbl, Veggie Grill, and JUST.
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Thistle delivers nutritious, ready-to-eat plant-centric meals, juices, and snacks multiple times per week.
Ash Cheriyan, Co-Founder and CEO of Thistle, said: “We know our food must be undeniably delicious in order to serve as a long-term choice for our customers. We aim to show that healthy food doesn’t have to be bland and boring—that eating a sustainable, plant-forward diet can be a celebration instead of a sacrifice. We could not be more excited to be partnering with PowerPlant Ventures, whose financial support, domain expertise, relationships, and perspective will allow us to more rapidly and broadly execute our vision of making nutritious, plant-centric products accessible everywhere, and continue to fuel the plant-based movement.”
Gluck said in the release: “PowerPlant has been laser focused on finding a company that can successfully combine the health benefits of ultra fresh with consumer demands of convenience and affordability, while maintaining a financially robust business model—and we found it in Thistle. We fundamentally believe in the growing prepared meal delivery market and are thrilled to partner with such a strong team, led by Ash and Shiri.”