Aisha “Pinky” Cole and the Slutty Vegan brand continue to smash ceilings.
Per For(bes) The Culture, Cole announced that she managed to raise $25 million in a Series A funding round. Her brand now sits at $100 million. With the goal of building a billion-dollar brand, she may be well on her way with not just the popular four-year-old vegan burger chain, but also a foundation, shoe deal, and many other lucrative moves under her belt.
Meet the Lead Investors
The $25 million round was led by entrepreneur Richelieu Dennis’ New Voices Fund and Enlightened Hospitality Investments, which is led by restaurateur Danny Meyer.
With Dennis, she has the expertise of the person responsible for creating Sundial Brands, known for products like SheaMoisture and Nubian Heritage. On the other hand, Meyer can offer his knowledge as the creator of Michelin-starred restaurants and the successful food chain, Shake Shack.
“I got the Michael Jordan of food on my team,” said Cole in reference to Meyer. She further mentioned that he “has proven that you can scale a business, and it can be unique.”
For Meyer, he’s admired the way that Cole and her team have managed to make vegan food exciting and different.
“I had never seen vegan food presented in such a fun way,” Meyer said. “Leaders are often defined by the degree to which people want to follow them, and I saw people following the leader.”
Looking Ahead to The Future
With the latest investment, Cole reportedly has plans to open up 10 additional Slutty Vegan restaurants by the end of the year. The goal is also to add another 10 locations in the near future.
Another move she aims to make with the funds is to expand her team by adding a chief operating officer and chief marketing officer to the company to continue to scale and manage that growth.