Sessions Raises £3.25m from Virgin Money
Summary
The raise represents additional capital following a \xa38.1m Series A closed in 2022.The Sessions platform identifies exciting food brands and scales them rapidly by launching them in existing kitchens. We believe these two principles are starting to prove themselves as fundamental, as there is wider acceptance that pureplay dark kitchen models are very challenging.To raise this round with such a great team at Virgin is testament to the significant growth weve achieved across the past 12 months, while radically improving profitability. It also marks a line in the sand for us to inject clear purpose and energy into our biggest growth lever - licensing and scaling brands through our tech platform.Head of Venture Debt at Virgin, Mark Cook said:Virgin Money Venture Debt is delighted to have completed a \xa33.25m funding package with Sessions, a leading B2C technology company with a capital efficient physical and digital food platform. Sessions has an innovative asset light food licensing and franchising model which in essence helps chef founders rapidly test, incubate and scale their creations in an authentic way. One of these brands, Patty Guy by Kenny Tutt, has scaled across 100 sites under licence and has opened two physical franchises, in Worthing and Hastings, in the past 6 months.Sessions was launched by Dan Warne, former MD of Deliveroo, with the goal of bringing the most exciting talent in food to neighbourhoods across the country through their licensing platform.