Heura Foods, a prominent player in the food-tech industry, has successfully concluded its Series B funding round, securing €40 million, which stands as the largest plant-based investment in 2023. This financial backing represents a pivotal moment in the company’s journey, propelling its business vision forward and solidifying Heura’s role as a crucial technological force steering the global protein transition towards a net-positive food system.

As Heura continues to lead the growth of the alternative protein sector in Spain and swiftly establishes its presence in key markets like the United Kingdom, France, and Italy, the infusion of funds will drive the company towards profitability. This financial boost aims to strengthen Heura’s position as a frontrunner in the industry, underscoring its technology as a distinctive competitive advantage and positioning it as a potential European Champion.

Marc Coloma, CEO and co-founder of Heura Foods, expressed enthusiasm about the recognition of Heura’s vision at the forefront of Europe’s protein transition. He emphasized the need to shift pressure from consumers to the food industry, prioritizing health and sustainability. Coloma anticipates that this new chapter, fueled by the recent investment, will lead Heura to profitability and empower the company to develop innovative technologies addressing industry challenges on a scalable level.

In April, Heura filed its first patent, introducing groundbreaking nutritional values without additives applicable across various plant-based food categories, including deli meats, whole cuts (meats and fish), and dairy products. Remarkably, within just five months of filing, this pioneering method resulted in the production of the first additive-free “york-style” slices, already available in the market.

Heura’s vision received support from Upfield, the largest plant-based manufacturer, as a round leader, and a doubling down of investment from Unovis. Contributions also came from prominent players like the European Circular Bioeconomy Fund (ECBF VC) and New Tree, forming a strategic coalition to create one of the most significant plant-based alliances. This alliance will focus on top-notch technology to establish new industry standards, allowing Heura to enhance its impact in the food industry, accelerate international expansion, and explore collaboration models beyond its branded meat alternatives.

Marie Asano, Partner at European Circular Bioeconomy Fund (ECBF VC), expressed excitement about supporting Heura’s internationalization and technological advancements, highlighting Heura’s strong brand, quality focus, and commitment to health in leading the plant-based meat sector in 2023.

With the Series B funding, Heura aims to achieve profitability, foster innovation, and expand its portfolio of technological patents to address consumer barriers globally. The company remains committed to launching “successor” products with high repeat rates in the category while expanding its business through tech licensing to engage a broader audience and expedite the transformation of the food system.