Funding

[Funding alert] French-based foodtech Startup Umiami Raises €32.5M Series A Round Funding

Oct 3, 2023 | By Startup Rise EU

Umiami, a French foodtech startup, secured €32.5 million in a series A round of funding.The €32.5 million investment round, which consisted of Astanor Ventures, Redalpine, Newfund, and VERSO Capital, was organized by SPI fund and French Tech Seed (both managed by Bpifrance for the French government).

Umiami, a French foodtech startup, secured €32.5 million in a series A round of funding.The €32.5 million investment round, which consisted of Astanor Ventures, Redalpine, Newfund, and VERSO Capital, was organized by SPI fund and French Tech Seed (both managed by Bpifrance for the French government).

The company recently received a further €32.5 million, which will enable it to increase demand for its umisation technology across European markets, expand its provision of alternatives to meat to the US, and expand its workforce by recruiting John Hatto to serve as Managing Director for North America.

Read also - Lausanne based Debiopharm Innovation Fund Launches $150 million Seed Funding Initiative.

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The company opens a new factory in Alsace where it establishes plant-based meat substitutes that it says contain less than 10 components and are free of texturizing agents or debatable additives in an effort to dominate the marketplace for such products. The company is preparing to boost its output to 20,000 tons over time with a capacity of 7,500 tons per production line.

Read also - Bolognese Biotech startup Cellply Secures €3.6 million in Funding

Tristan Maurel (CEO) and Martin Habfast (Export Director), co-founders of Umiami said : "We are extremely proud of the huge success of our Series A, and of the confidence that our investors and partners have placed in us. This round of funding will enable us to continue our mission to revolutionise the food industry by offering sustainable and tasty alternatives to meat-based products. We are also delighted to announce our expansion into the US, where we are determined to bring our innovation to American consumers,”.

About Umiami

Umiami is a French foodtech company that launched in 2020 with the goal of lowering global meat consumption and the adverse impacts it has on people's health, animals, and the environment.

They are innovators in the development of the "umisation" method for texturizing plant proteins, which has a patent pending. Without sacrificing flavor or texture, we can recreate the feeling when consuming meat or fish fillets via our umisation technology.

Read also - Annika Falkengren Joins Swedish Tech Company Ark Kapital’s Board of Directors

Umiami will inaugurate its first sizable manufacturing facility in October 2023, following the grand opening of our first pilot plant innovation center last year. Near the German border in Duppigheim, France, on a 14,000m2 property, one production line will be able to produce 7,500 tonnes of product annually. As of right now, food processing and catering businesses are able to buy Umiami's first chicken fillet made entirely of plants.

Read also - Berlin-based Proptech Startup Novo Raises €1 million Pre-seed Funding

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