Funding

[Funding alert] Barcelona-based Heura Secures €40 Million in Series B Round Funding

Feb 6, 2024 | By Startup Rise EU

Barcelona-based Heura secures €40 million in series B round funding. Plant-based manufacturing Upfield partnered with Unovis Asset Management in this round, which also included New Tree Impact and well-known food tech fund European Circular Bioeconomy Fund (ECBF VC).

Barcelona-based Heura secures €40 million in series B round funding. Plant-based manufacturing Upfield partnered with Unovis Asset Management in this round, which also included New Tree Impact and well-known food tech fund European Circular Bioeconomy Fund (ECBF VC).

The company claims that by forming one of the largest plant-based alliances, this strategic coalition will enable Heura to increase its influence in the food industry, accelerate its international expansion, and explore new collaboration models beyond its own line of meat substitutes. The board will be focused on cutting-edge technology, setting new industry standards.

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Marc Coloma CEO and co-founder of Heura Foods said, “We are thrilled as this is a recognition of Heura’s vision at the forefront of Europe’s protein transition, 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”.

The company submitted its first patent in April, allowing never-before-seen additive-free nutritional values that may be applied to a variety of plant-based food categories, including dairy products, whole cuts (meats and seafood), and deli meats.

Read also - Dutch AI Startup Whispp Secures €750k in Seed Funding

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.”

Heura hopes to break even on this Series B, spur more innovation, and grow its portfolio of tech patents by addressing the largest consumer obstacles on a scalable, international basis.

Read also - Lyon-based ENYO Pharma Secures a €39 Million in Series C Round Funding

While growing its business through tech licensing and attracting a wider audience to speed up the food system change, the company is committed to launching what they refer to as "successors" items with the highest repeat rates in the category.

About Heura

In the heart of the Mediterranean, in a co-working space in Barcelona, Heura® Foods was established in 2017. It was started as a social purpose that evolved into a business to enable people to replace the present food system with one that is more nourishing, sustainable, and healthful.

Read also -  London-based Episode 1 Secures its Third Fund at £76 Million

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