Funding

[Funding alert] Austrian Foodtech Startup Kern Tec Secures €12 million Series A Round Funding

Sep 26, 2023 | By Startup Rise EU

Herzogenburg-based the Austrian foodtech startup Kern Tec announced it has Secures €12 million in Series A funding, With involvement from the PeakBridge Growth 2 fund and the European Research Council (EIC) Fund, which was managed by Telos Effect.
Team - Kern Tec

Herzogenburg-based the Austrian foodtech startup Kern Tec announced it has Secures €12 million in Series A funding, With involvement from the PeakBridge Growth 2 fund and the European Research Council (EIC) Fund, which was managed by Telos Effect.

The company has significant local and international subsidies in addition to equity finance.

The company is going to use these funds to boost the manufacturing and marketing of its sustainable ingredients for dairy and confectionary products made from plants.

Read also - London-based SaaS platform Cygnetise Raises €2.9 million pre-Series A Round Funding

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These components are made from recycled stone fruit pits, such as those from apricots, plums, and cherries, which are disposed of in Europe alone in amounts of 500,000 metric tons yearly. Kern Tec supports to a circular and more robust food chain by transforming these pits into food-safe and environmentally friendly goods.

Read also - Invest-NL backs Climate-First Fund Extantia Capital

In order to turn seeds into B2B ingredients for dairy substitute uses like milk, yoghurt, ice cream, and cheese, Kern Tec has created a set of innovative technologies and supply systems. The company starts its growth stage by scaling every link in the value chain and its global clientele after having successfully processed over 2.500 tons of fruit pits in their Austrian manufacturing plant.

Read also - London-based Dawn Capital Secures $700million For B2B Software Fund

About Kern Tec

Founded in 2019, Kern Tec uses a number of unique methods of processing to extract protein as well as valuable oils from the seeds found within the mostly ignored stone fruit pits.

These distinctive minerals are subsequently turned into a foundation component for delectable, sustainable, and economically advantageous replacement dairy goods like plant-based milk, yoghurt, and cheese. In the years to come, the company will have received purchase orders for its ingredients reaching millions of euros in revenue.

Read also - Edinburgh-based Continuum Industries Secures $10 million Series A Round Funding

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