MATR funding news – Copenhagen-based MATR Secures €20Million in Funding

Randi Wahlsten, chief executive officer and co-founder of MATR said, “Our products have been received overwhelmingly well by chefs, restaurants, and consumers, clearly confirming the appetite for cleaner, healthier, and more juicy alternatives to meat, We are thrilled that the EIB, with its strong support, enables us to take the production to scale as fast as possible,”.

The Danish company will be able to construct a first-of-its-kind facility for the manufacturing of plant-based meat substitutes with clean labels thanks to the funds. It wants to generate more than 3,000 tonnes of its flagship product annually. The money will also be used by the business to finance product development and research.

The European Union's long-term financing organization, the European Investment Bank, is owned by its member states. It provides funding for projects that further EU policy goals.

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Projects funded by the European Investment Bank (EIB) boost innovation, competitiveness, sustainable development, social and territorial cohesion, peace and security, and a fair and expeditious transition to climate neutrality.

EIB Vice-President Ioannis Tsakiris said, “Plant-based meat alternatives not only have high growth potential but also bring environmental and health benefits, When it comes to financing the green transition, innovation is a key part along with agriculture. MATR brings these two priority areas together and we are happy to support its endeavour.”

About MATR

Microbiology and gastronomy are combined at MATR Foods to develop novel approaches to some of the world's most pressing problems, including the climate, biodiversity, and health issues. In order to produce fungal foods—a new breed of naturally occurring meat substitutes based on fungi fermentation—the company uses a solid-state fermentation technology on widely available local commodities like beetroots, potatoes, lupins, and peas.