Despite the pandemic and the challenging times hospitality is facing, Stem & Glory has reached its target for this funding round in less than an hour and is now over funding at 210%.
The company set out to raise £40k, adding to £200k already raised in grants and capital contributions, for their new COVID-secure site at the prestigious CB1 development in central Cambridge.
In less than one hour Stem & Glory reached its target and the inward investment (for this round) currently stands at over £80k.
Founder Louise Palmer Masterton said: “Our supporters have backed us from the beginning helping to turn the business into what it is today. Stem & Glory is a community-owned business and our 1000 strong investor community have stuck by us all the way.”
Louise took the enforced closure during lockdown as an opportunity to look critically at the business and to think about its future in a post-COVID world. During lockdown, she developed a new business model which now spans in-store dining, delivery, click & collect, and a ready meal and product range designed by the legendary Afroditi Krassa who is also the designer on the new Cambridge site.
“We are on a mission to disrupt both the world of plant-based food and the traditional hospitality model. Our new omnichannel business model is not only innovative, but will also help pave the way for healthier and more conscious ways of living” explained Palmer Masterton.
The current funding round will close at midnight on October 5th and the investment will help drive the business forward into 2021.