Sustainable Plant-Based Meat Startup Novameat Closed a €17.4 Million Series A Round

With the funding, the company wants to contribute to a fast food transition that leads people to new eating habits, to the expansion of production capacity and the acceleration of research in the development of new products.

Sustainable plant-based meat startup Novameat has closed a €17.4 million Series A round. The investment was led by Sofinnova Partners and Forbion through the BioEconomy Fund, joined by existing investors Unovis Asset Management, Praesidium, and Rubio Impact Ventures. What does the team plan to do next after the funding?

The Novameat Round

Now, with the financing, Novameat wants to contribute to a fast food transition that leads people to new eating habits, towards the expansion of production capacity and the acceleration of research in the development of new products, to consolidate its presence on international markets and offer increasingly accessible and quality plant-based solutions.

The capital injection will also be used to improve commercial activities in new regions and to expand the product portfolio, including the launch of the new Shredded Nova-b*ef , scheduled for next September 16.

How was Novameat born?

Founded in 2018 in Barcelona by bioengineer Giuseppe Scionti , Novameat markets its products in Europe, from chicken strips to turkey fillet, thanks to MicroForce , a technology that produces plant-based meat on an industrial scale in compliance with rigorous quality requirements and without losing its taste.

Novameat products are made with highly protein ingredients: yellow pea flour, sunflower oil and algae extracts. To date, four types have been placed on the market: beef strips, chicken strips, chicken fillet and turkey salami, which are distributed in Spain, England and Benelux (Netherlands, Belgium and Luxembourg).

__

(Featured image by Farhad Ibrahimzade via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us