Adamo Foods bites into $620k to launch Europe’s first ultra-realistic “steak” alternative
Adamo Foods has won triple backing in a boost to its mission to develop delicious, healthy and sustainable alternatives to meat whole-cuts from fungi.
Computer generated picture
The London-based food tech brand first secured a Smart Grant from Innovate UK, the UK government research and innovation department’s highly competitive flagship award.
The company then secured its first VC investment from Beeches Group, a prolific food and agriculture investment fund backed by the owners of Noble Foods.
Building on its success, Adamo Foods has now been selected as winner of the SHAKE Climate Change 2022 cohort, a prestigious annual competition led by World-renowned Rothamsted Research that seeks to support the most promising innovations in sustainable food production.
The company is using the funding to complete its development of Europe’s first convincing beef steak alternative. Pierre Dupuis, Founder and CEO said:
It’s a hugely exciting time in the alt-protein space, with meat alternatives more popular than ever. But we see a huge gap in the market for realistic and healthy alternatives to whole cuts. Whole cuts represent 85% of the $1trn meat market but are virtually absent in meat alternatives. We’re aiming to change that.
‘Whole cuts’ refers to steaks and filets as opposed to shredded pieces of meat such as burgers and nuggets.
Adamo Foods is using a proprietary fermentation process to create clean-label whole-cut “steaks” based on a single, natural superfood called fungal mycelium. Adamo Foods’ mycelium strain is packed with fiber, is a complete protein source with all 9 essential amino acids, and is inherently fibrous, delivering a unique muscle-like structure.
We’re working on an exciting new technology to take these products to the next level, and are hugely grateful to our new investors for recognising its potential. The funding takes us one step further on our mission to remove animals from our broken food system.
The company plans to pilot launch its first product in a limited number of UK locations in 2023.
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
Something is happening in the food & beverage industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.
