Novameat, a food technology company, has secured €17.4 million in an oversubscribed Series A round. The investment was led by Sofinnova Partners and Forbion’s BioEconomy Fund, with participation from existing investors Unovis Asset Management, Praesidium, and Rubio Impact Ventures.
Since its founding, Novameat has developed innovative plant-based products with a unique texture and gained acceptance from customers. The company has scaled its production capacity and modified its facility to meet stringent BRCGS standards. Its business-to-business approach, technological scalability, and delicious products have attracted the attention of large foodservice customers and industry players.
The company’s CEO and Founder, Giuseppe Scionti, said that the funding marks a significant milestone and will be used to enhance commercial activities in new regions, expand its product portfolio, and accelerate research and development efforts.
The new investment will also be used to support the launch of the company’s latest product, Shredded Nova-b*ef, on September 16th. The capital will enable Novameat to continue leading the field of sustainable, high-protein products.
Industry experts are optimistic about Novameat’s potential to revolutionize the food industry. “Novameat’s technology platform and products have the potential to disrupt the traditional meat industry,” said Joško Bobanović, Partner at Sofinnova Partners. Alex Hoffmann, General Partner for Forbion’s BioEconomy Fund, added that Novameat’s proprietary technology is “groundbreaking” and has significant potential for innovation in plant-based foods.
Existing investors are also enthusiastic about the company’s progress. “We’ve seen remarkable strides by Novameat’s team since our initial investment,” said Dan Altschuler, Managing Partner at Unovis Asset Management. “Their continued innovation in creating premium plant-based meat products is unmatched.”
