Veggie Grill, a premium fast casual brand known for its vegetarian-centric cuisine, has completed a USD22 million funding round.
The capital raise included investments from Brentwood Associates, a private equity firm and existing shareholder of Veggie Grill; Powerplant Ventures, a venture capital firm founded by Veggie Grill’s co-founders Kevin Boylan and TK Pillan; and other current and new investors.
With the investment, Veggie Grill will focus on expansion to new markets in the US, as well as growing current markets.
“As today’s consumers make the shift towards ‘veggie positive’ thinking and eating, Veggie Grill’s brand proposition positions us well for today and the future,” says Veggie Grill CEO Steve Heeley. “This capital raise will help support our growth into other major markets across the US.”
Following this round of funding, Brentwood Associates remains the largest single shareholder.
“As an innovative concept, Veggie Grill has proven to be truly differentiated in the marketplace for fast casual restaurants. We look forward to our continued partnership as the brand progresses on its rapid growth trajectory,” says Rahul Aggarwal, partner at Brentwood Associates and a member of Veggie Grill’s board of directors.
