Sustainable food technology company Novameat, creating pioneering plant-based products with a unique fibrous texture and strong customer acceptance, announced that it has raised €17.4 million in an oversubscribed Series A round. The funding round was led by Sofinnova Partners and Forbion via its BioEconomy Fund and follows a reinvestment from Unovis Asset Management, Praesidium, and Rubio Impact Ventures.
Since its founding, Novameat has successfully introduced innovative products across Europe and industrially scaled its proprietary MicroForce technology, which creates a signature texture in its products and modifies its production facility to meet tough BRCGS requirements. The company’s unique B2B approach, technological scalability, and delicious products known for their distinctive texture have attracted the attention of large food service customers and industry players, positioning Novameat as a leader in the plant-based proteins market and meeting the growing demand for healthier and more exciting options.
This funding round will enhance commercial activities in new regions and support the expansion of the product portfolio, including the launch of the new Shredded Nova-b*ef on September 16. The funding will also be used to further scale production capabilities and accelerate research and development efforts, enabling the company to continue leading in the field of sustainable, high-protein products.
With the successful funding round, Novameat strengthens its commitment to deliver exceptional value to its customers and stakeholders.
KEY QUOTES:
“We are delighted to close this Series A round and are grateful for the confidence shown by our new partners and the continued support of our existing investors. This funding marks a significant milestone in our journey, and we are more committed than ever to empower people to prioritize their wellbeing and our planet. It’s great that this coincides with the launch of our new Shredded Nova-b*ef, which has received incredibly positive feedback in the market.”
-Giuseppe Scionti, CEO and Founder of Novameat
“Novameat has the potential to revolutionize the food industry by providing sustainable and tasty alternatives to animal-based proteins. With their great tasting products, unique technology platform, strong customer approval, in-house production capacity, and competitive cost structure, they are well-positioned to seize the enormous market opportunity and drive further innovation in the sector.”
-Joško Bobanović, Partner at Sofinnova Partners
“Novameat’s proprietary technology is truly groundbreaking. We see significant potential not only in their current products but also in the pipeline of innovations they are developing. We are excited to work with Novameat as they continue to push the boundaries in plant-based foods and contribute to solving critical global sustainability issues.”
-Alex Hoffmann, General Partner for Forbion’s BioEconomy Fund
“We’ve seen remarkable strides by Novameat’s team since our initial investment. Their continual innovation in creating premium, plant-based meat products is unmatched. We’re delighted to enter this new phase of growth alongside the new investors and are proud to continue our support with those who share our enthusiasm for improving food systems.”
-Dan Altschuler, Managing Partner at Unovis Asset Management, on behalf of the existing investors
