VegCo Market Update: New Investors and a Possible Move to Austin TX
VegCo Market, the would-be first 100% plant-based supermarket we mentioned in October has since experienced some ups and downs. And it might not wind up in Phoenix, as originally planned. While the creators have secured $150,000 toward the project, initial negotiations with a local capital acquisition firm to secure the remainder of the funds fell through.
As a result, they've asked the community to help raise the rest of the money needed via their Indiegogo fundraiser which ends the 21st of November. It doesn't appear, however, that the crowdfunding will make up for the difference since they've only raised just over $6,000 from the campaign.
On the up side, they have recently announced a new partnership with a multinational investing group, and they're not saying who they are just yet. This new partnership would provide them sufficient funding to get VegCo up and running.
The kicker is that this investment group, while lauded for their priorities on people and planet versus profits, also thinks that Austin, Texas is a better location to build a flagship location.
Heather Francois, one of the founders of VegCo Market tells us that the investors will be flying on on December 6th of next month. "I will be giving the investors a tour of the building and the area we have picked out and hopefully providing them with sufficient proof that the Phoenix community is supportive of this concept," explains Francois.
Francois and VegCo have put forth a call to action from the community. They have requested that supporters send letters of interest or "contributing a small amount ($1-$5) to the VegCo IndieGoGo campaign at www.indiegogo.com/vegco and commenting on how important this is for our city."
You can send your letters of interest, or find out more from VegCo Market at (602) 689-7453 or firstname.lastname@example.org.
Get the Food & Drink Newsletter
Our weekly guide to Phoenix dining includes food news and reviews, as well as dining events and interviews with chefs and restaurant owners.