Vegan fast food pioneer Odd Burger secures C$1.4m to fund expansion

Odd Burger Corporation, a trailblazer in plant-based fast food and food technology, has reached a key milestone by completing an oversubscribed private placement, securing C$1.43 million in gross proceeds. Initially targeting $1 million, the Canadian company exceeded expectations with strong investor support, marking a pivotal step in its plans to expand franchise operations, enhance manufacturing facilities, and advance automation technologies.

The offering, originally announced in November 2024, concluded with the issuance of 5,728,000 units priced at $0.25 each. Each unit included one common share and a purchase warrant, allowing investors to acquire additional shares at $0.30 until January 2027.

According to Odd Burger CEO and co-founder James McInnes, the overwhelming interest in this funding initiative underscores the rising demand for sustainable, plant-based dining options. “The success of our private placement reflects growing awareness of the environmental and health benefits of plant-based eating. We’re thrilled to continue driving innovation in this space,” McInnes remarked.

What are the details of Odd Burger’s private placement offering?

The private placement offering was executed in two tranches. The first tranche, completed on December 30, 2024, raised $430,000 through the issuance of 1,720,000 units. The second tranche, finalised on January 24, 2025, raised $1,002,000 with the issuance of 4,008,000 units.

Each unit consisted of one common share and one purchase warrant, with each warrant enabling the holder to buy an additional common share at $0.30 until January 2027.

Net proceeds from the offering will primarily support Odd Burger’s working capital needs. Specific areas of focus include franchise expansion across Canada and the United States, upgrades to its vertically integrated manufacturing facilities, and further development of proprietary automation technologies designed to streamline restaurant operations.

To facilitate the offering, Odd Burger partnered with Canaccord Genuity Corp. as a finder for a portion of the transaction. The company paid $37,200 in cash fees to finders, representing 8% of the gross proceeds raised, and issued 148,800 finder warrants, which allow the purchase of units at $0.25 within a 24-month period.

The transaction is subject to final approval by the TSX Venture Exchange. All securities issued are subject to a four-month and one-day hold period, ensuring compliance with regulatory requirements.

Why is Odd Burger gaining investor confidence?

Odd Burger’s strong performance in its private placement is a reflection of its innovative approach to fast food. By combining sustainable practices with cutting-edge automation, the company is transforming how plant-based meals are delivered.

Odd Burger operates a chain of vegan fast-food restaurants and manufactures proprietary plant-based protein and dairy alternatives. These products are distributed through its foodservice line and sold at grocery retailers via its consumer-packaged goods (CPG) division.

The company’s smart kitchens rely on advanced cooking technology and automation to create a seamless customer experience while minimising environmental impact. With smaller store footprints optimised for delivery and takeout, Odd Burger appeals to modern consumers seeking convenience, health-conscious meals, and sustainable dining options.

What’s next for Odd Burger?

Odd Burger has already set its sights on significant growth, evidenced by its strategic moves in late 2024. The company celebrated the grand opening of its Vancouver restaurant and food truck in November, marking its entry into the British Columbia market.

The Vancouver food truck has become a key tool in promoting the Odd Burger brand, catering to corporate events, festivals, and private functions. Its flexibility enables the company to target diverse customer segments while building a strong presence in Western Canada.

Looking forward, Odd Burger aims to capitalise on its successful funding round by accelerating franchise development and refining its operations. The company’s focus on advanced cooking technologies, competitive pricing, and a vertically integrated supply chain positions it as a disruptor in the fast-food industry.

Experts believe the company’s emphasis on sustainability and innovation resonates with a growing demographic of eco-conscious consumers. By meeting the rising demand for plant-based dining options, Odd Burger is carving a niche in the competitive fast-food market.

How does Odd Burger’s private placement impact the fast-food industry?

The oversubscription of Odd Burger’s private placement signals growing investor interest in plant-based food solutions. With heightened awareness of climate change and health issues, consumers and businesses alike are prioritising sustainable practices.

Odd Burger’s ability to secure more funding than anticipated highlights confidence in its business model. By integrating automation with a commitment to ethical and eco-friendly practices, the company sets itself apart from traditional fast-food chains.

As Odd Burger continues to innovate and expand, its impact on the fast-food industry could be transformative, encouraging competitors to adopt more sustainable practices and diversify their offerings.