Free-from focus: Incredible Bakery raises investment
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Incredible Bakery Company, a food company specialising in allergen-free goods, has this week raised its third round of investment.
Founded by husband-and-wife partnership Valeria and James Turner, the bakery was set up when the pair discovered that their son Leon had various food allergies. Incredible Bakery Company now creates bakery and pastry products free from all the most common 14 allergens (including dairy, eggs, gluten, and soya), and forms part of the increasingly health-conscious food landscape in the UK.
Originally founded in London, the team moved to Northamptonshire in pursuit of cheaper property and better availability of grants.
The company is four years old, having been registered in September 2013. It has a diverse financial timeline, having taken a variety of funding types:
The company received a £20k property grant from Northamptonshire County Council LOCATE in August 2014, and nine months later a £5k Emerging and Enabling grant from Innovate UK. Later in 2015, as shown, Incredible Bakery Company raised its first round of equity investment – £150k, from Jenson SEIS & EIS fund– which valued the firm at £450k.
At the time of writing, Incredible Bakery Company has raised a total of £210k from equity, alongside £25k from grants – and now a further £20k from Enterprise Loans East Midlands, a scheme managed by Enterprise First. The loan is for job creation amongst other things, and the company plans to expand its Northamptonshire operation in the wake of the funding. Incredible Bakery Company also raised money on non-equity crowdfunding platform Indiegogo.