Heura Foods, a leading force in the food-tech industry, has successfully closed its Series B, securing €40 million. This round gathered the plant-based manufacturer Upfield with Unovis Asset Management, alongside prominent food tech fund European Circular Bioeconomy Fund (ECBF VC), and New Tree Impact.
According to the company, this strategic coalition builds one of the biggest plant-based alliances, forming a board that will focus on top-notch tech to set new industry standards and allowing Heura to boost its impact in the food industry, accelerating international expansion and exploring new collaboration models beyond its own branded meat alternatives.
Founded in 2017, Heura continues to lead the alternative protein sector growth in Spain and is on its way to consolidating its footprint across key markets like the United Kingdom, France and Italy, this funding injection will also drive the company to profitability and fortify its position as an industry frontrunner, confirming Heura’s tech as a unique competitive advantage and a prospective to become the European Champion.
“We are thrilled as this is a recognition of Heura’s vision at the forefront of Europe’s protein transition,” said Marc Coloma CEO and co-founder of Heura Foods. “To change the food system we need to move the pressure from consumers to the food industry, placing health and sustainability as a must. This new chapter will drive us to profitability while allowing us to develop breakthrough tech to tackle the key challenges within the industry in a scalable way”
In April, the company filed its first patent that allows never seen before nutritional values additive-free that can be applied across multiple plant-based food categories, such as deli meats, but also whole cuts (meats and fish) and dairy products. Within a mere five months of filing, this pioneering method has been applied in producing the first additive-free “York-style” which in just three months is the top rotating product per store/day.
David Haines, Group CEO of Upfield, commented “We’re excited to be leading Heura’s latest investment round and partnering with a pioneering food-tech focused on making waves with clean label technologies that deliver both on nutrition and taste. Through our investment and strategic partnership, we’ll jointly advance research & development, to fast-track innovation in the plant-based cheese category. We look forward to supporting Heura’s team in accelerating the plant-based transition, aligned on a joint mission to transform the global food system to one that offers consumers more affordable and delicious plant-based options, shaping the Future of Food.”
“In 2023, despite challenges, Heura’s poised to lead the plant-based meat sector with a strong brand, quality focus, and health commitment. Excited to support its internationalisation and tech advancement for pan-European leadership,” mentioned Marie Asano, Partner at European Circular Bioeconomy Fund (ECBF VC).
With this Series B Heura aims to achieve profitability, further drive innovation, and expand its portfolio of tech patents solving the biggest consumer barriers in a scalable and global scale. The company remains steadfast in its goal of launching what they call “successors” products with the highest repeat rates in the category, while expanding its business through tech licensing and thereby enticing a broader audience to accelerate the food system transformation.
