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The russian food company secures £25k investment offer
29th March, 2018
A Sheffield-based company which has created a modern version of the traditional Russian pie has received a £25,000 equity investment from UK Steel Enterprise (UKSE) to support expansion into new markets.
The Russian Food Company was founded in April 2017 by entrepreneurs Leeza Murina and Steve Jones after spotting a gap in the market.
It has created 'Bunza', a cross between an artisan pie and a gourmet sandwich and a modern twist on the traditional Russian pie.
The Russian Food Company was one of eight companies to pitch as part of the final of the Y-Accelerator event.
Co-founder Leeza Murina said: "Following our initial success at independent farmers markets across the UK, the £25,000 equity investment will help us to expand our reach and deliver to smaller retail outlets such as farm shops, independent restaurants, cafes and delicatessens; growing our customer base with the view to eventually working with larger retailers too. With this in mind, we have already had a great response from Ocado, Selfridges Food Hall and Virgin Rail, to name a few."
The UK Steel Enterprise Y-Accelerator initiative is a collaboration between private and public sector organisations including Rotherham Investment and Development Office (RiDO), Sheffield City Region Growth Hub, UK Steel Enterprise, Gripple and a number of private firms.
Alan Stanley, regional executive of UK Steel Enterprise, added: "The Y-Accelerator is a unique initiative that brings together various forms of support to create an intensive incubator for entrepreneurs with start-up ideas.
"The process was designed to help validate ideas, develop strong business models and provide people with the tools and skills to launch new businesses, and The Russian Food Company really demonstrated existing capacity for growth and expansion."