GreenTech Startup Finnish Food Factory Raises €10 Million Funding

The investment comes from Taaleri Bioindustry Fund I, an Article 9 fund focused on supporting the shift to more sustainable, plant-based food production.

“Finnish raw materials – particularly oats – have become a staple in consumers’ diets. With many years of expertise in plant-based products, the cornerstone of our operations is efficient, innovative and reliable production. We are excited to welcome Taaleri Bioindustry as our growth partner,” says Tuomas Kukkonen, Chair of the Board at Finnish Food Factory.

Founded in 2020, Finnish Food Factory produces plant-based dairy alternatives for major global and Nordic brands, including Fazer. The company has grown its revenue from €1.2 million in 2020 to €13.5 million in 2024, thanks to a broad customer base and a strong ability to deliver high-quality products on time.

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Their range includes oat- and pea-based drinks, spoonable yoghurts, cooking creams, protein drinks, sauces, spreads, coffee and cocoa-based beverages, and meal replacements. According to Taaleri, oat milk has a much smaller carbon footprint than traditional cow’s milk.

“We are pleased to begin our collaboration with Finnish Food Factory. With its experienced team, the company has achieved successful growth in both local and international markets while consistently delivering reliable production and value-add to its global customers,” says Marjatta Rytömaa, Managing Director at Taaleri Bioindustry.

This marks the sixth investment from Taaleri Bioindustry Fund I, which has secured over €100 million in total commitments and has already invested about half of that amount.

The fund is part of Taaleri Group, a Finnish investment firm focused on driving change through capital. Taaleri manages €2.7 billion in assets across private equity funds, co-investments, and single-asset vehicles, with expertise in investments, asset management, and non-life insurance.