Funds will be used to further scale production through its
MicroForce technology, launch an expanded product range and boost
global market reach and commercial activities.
Novameat, a sustainable food technology company creating
pioneering plant-based products with a unique fibrous texture and
strong customer acceptance, announced today that it has raised
€17.4 million in an oversubscribed Series A round. The investment
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 inception, Novameat has successfully introduced
innovative products across Europe, industrially scaled its
proprietary MicroForce technology, which creates the signature
texture in its products, and modified its production facility to
meet stringent BRCGS requirements. The company's unique B2B
approach, technological scalability and delicious products known
for their distinctive texture have attracted the attention of large
foodservice customers and industry players, positioning Novameat as
a leader in the plant-based proteins market, meeting the growing
demand for healthier and more exciting options.
"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", said Giuseppe Scionti, CEO and
Founder of Novameat. "This funding marks a significant milestone in
our journey, and we are more committed than ever to empower people
to prioritise 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.”
This financing round will be used to 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
the 16th of September. The capital 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.
"Novameat has the potential to revolutionise the food industry
by providing sustainable and tasty alternatives to animal-based
proteins," said Joško Bobanović, Partner at Sofinnova Partners.
"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."
Alex Hoffmann, General Partner for Forbion’s BioEconomy Fund,
added, "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."
"We’ve seen remarkable strides by Novameat’s team since our
initial investment," said Dan Altschuler, Managing Partner at
Unovis Asset Management, on behalf of the existing investors.
"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."
With the successful completion of this funding round, Novameat
strengthens its commitment to deliver exceptional value to its
customers and stakeholders.
About Novameat:
Novameat leads the way in creating sustainable plant-based meats
with a unique fibrous texture. Our dedicated team of innovators
combines advanced food science with culinary expertise to develop
our proprietary texture-building technology, scaling the principles
of 3D printing at industrial level. By prioritising nourishing,
high-quality ingredients and avoiding common allergens and complex
additives, Novameat provides an inclusive protein source. Learn
more at www.novameat.com.
About Sofinnova Partners:
Sofinnova Partners is a leading European venture capital firm
specializing in healthcare and sustainability. Based in Paris,
London, and Milan, the firm brings together a diverse team of
professionals with strong scientific, medical, and business
expertise. Sofinnova Partners is a hands-on company builder across
the entire value chain of life sciences investments, from seed to
later-stage.
Founded in 1972, the firm has 50 years of experience backing
over 500 companies and creating market leaders globally. Sofinnova
Partners currently manages over €2.8 billion. For more information,
please visit: www.sofinnovapartners.com.
About Forbion:
Forbion is a leading global venture capital firm with deep
expertise in Europe and offices in The Netherlands, Germany and the
USA. Forbion invests in innovative biotech companies, managing €3.2
billion across multiple fund strategies that cover all stages of
(bio-) pharmaceutical drug development. Forbion leverages its
biotech expertise beyond human health to address ‘planetary health’
challenges through its BioEconomy fund strategy, which invests in
companies developing sustainable solutions in food, agriculture,
materials, and environmental technologies. Forbion selects
impactful investments that will positively affect the health and
well-being of people and the planet, as well as meet its financial
return objectives. The firm is a signatory to the United Nations
Principles for Responsible Investment. Learn more at
www.forbion.com
About Praesidium
Praesidium is a Luxembourg-based investment company specialized
in Private Equity and Venture Capital. With a portfolio of 16
funds, Praesidium focuses on five strategic verticals: Agri-food
Tech, Software & Technology, Healthcare & Life Sciences,
Deep Value & Special Situations, and the US Mid-Market. Learn
more at www.praesidium.eu.
About Unovis Asset Management
Unovis Asset Management is a pioneering investment firm
committed to driving transformative change across global food
systems. Established in 2015, Unovis is a leading investor in the
alternative proteins sector, with a strong understanding of
solutions that foster sustained behavioral change. Recognizing the
urgency of shaping impactful outcomes, Unovis empowers founders
with in-depth food industry knowledge, an understanding of consumer
demands, food manufacturing experience, and a vast network of
industry professionals to build enduring companies. Learn more at
www.unovis.vc.
About Rubio Impact Ventures
Rubio Impact Ventures is a leading impact venture fund based in
the Netherlands with € 150 million AUM. Rubio invests in
world-changing entrepreneurs who unite powerful positive impact
with a scalable commercial business; the future-proof approach to
successful business. Rubio offers its investments a winning blend
of capital, expertise and network access to help them accelerate to
the next level. Learn more at www.rubio.vc.
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NOVAMEAT Contact: Berta Maeso Marketing Manager
media@novameat.com