Inside BENEO’s new pulse plant: pioneering sustainable protein from faba beans
Funds will be used to further scale production through its MicroForce technology, launch an expanded product range and boost global market reach and commercial activities
Novameat, a sustainable food technology company creating pioneering plant-based products with a unique fibrous texture and strong customer acceptance, announced that it has raised €17.4 million in an oversubscribed Series A round. The investment was led by Sofinnova Partners and Forbion via its BioEconomy Fund and follows a reinvestment from Unovis Asset Management, Praesidium and Rubio Impact Ventures.
Since its inception, Novameat has successfully introduced innovative products across Europe, industrially scaled its proprietary MicroForce technology, which creates the signature texture in its products, and modified its production facility to meet stringent BRCGS requirements. The company’s unique B2B approach, technological scalability and delicious products known for their distinctive texture have attracted the attention of large food service customers and industry players, positioning Novameat as a leader in the plant-based proteins market, meeting the growing demand for healthier and more exciting options.
This financing round will be used to enhance commercial activities in new regions and support the expansion of the product portfolio, including the launch of the new Shredded Nova-b*ef on the 16th of September. The capital will also be used to further scale production capabilities and accelerate research and development efforts, enabling the company to continue leading in the field of sustainable, high-protein products.