Irish plant food company Fiid, which emerged from a small business rescue scheme earlier this year, has secured an investment from food-focused venture capital fund Redesdale.
Using a traditional French low-temperature cooking process, called sous vide, where vacuum-packed food in plastic or glass is cooked slowly in a water bath, Mr Ryan said he has found a way of delivering what he says are nutritious microwaveable plant-based meals with a long shelf life.
Fiid, which was founded in 2018, already works with a number of leading retailers across Ireland including SuperValu, Dunnes Stores and Tesco, and also with Holland & Barrett in the UK and online retailer Ocado. “Fiid has built a good brand based on strong consumer insight,” he said. “We are attracted by the product quality and strong market positioning of the business in the Irish market combined with the real potential for growth in the UK.”“Wastage can be a big issue when you are breaking into a new market in ambient food. The longer shelf life of the Fiid range will help that. But ultimately, quality needs to be there and we think that stands up [at Fiid].
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