Cultimate Foods raises 2.3 million EUR seed funding from leading Biotech and Foodtech investors to revolutionize the alternative meat industry
Cultimate Foods, a biotech startup based in Berlin’s Biocube and Hannover (Institut für Technische Chemie, Leibniz Universität Hannover), successfully closes its seed round to scale up production processes, expand commercial collaborations and operation.
The 2.3 million EUR round was led by High-Tech Gründerfonds (HTGF), one of Europe’s leading seed investors. HTGF was joined by the Life Science ValleyWachstumsfonds, b.value AG and Kale United. Leading global Foodtech investor Big Idea Ventures also participated in this round.
Cultimate Foods creates a game-changing alternative fat ingredient to bring the authentic meaty experience to plant-based products. While there are lots of plant-based meat products available on supermarket shelves, taste remains the top consumer barrier to the adoption of these sustainable alternatives. Cultimate Foods is a B2B partner in supplying cell-cultivated premium fat ingredient to the alternative meat industry to tackle this problem. The company already run several commercial pilots with the food industry leaders.
Cultimate Foods began its first steps in Göttingen at the Life Science Factory, where it could start its research directly in the well-equipped laboratories right after the pre-seed round.
"Science is the key to addressing many of the problems caused by the food industry. Through innovative technology, we can deliver the meaty flavors consumers crave while simultaneously cutting down on unethical intensive animal farming and tackling climate change by reducing CO2-emissions. Follow your passion and make the world a better place!", Eugenia Sagué, Co-Founder and Managing Director of Cultimate Foods.
"In a short time, Cultimate Foods was able to achieve significant milestones, establish strong ties with the foodtech industry and cooperations with universities. HTGF is excited to tap into a new investment vertical and support Cultimate Foods in revolutionizing the alternative meat industry with its cell-cultivated fat ingredient. In the food industry we have the chance to create a real impact,“ Tilmann Petersen, Investment Manager at HTGF.
"As one of the most active investors in the agrifood-tech space, we view fat innovation as essential for enhancing the taste, health profile, sustainability, and scalability of sustainable foods. And as early pre-seed investors in Cultimate who have seen the team grow from strength to strength, we are excited to continue to support Cultimate in this successful seed round for the launch of their innovative fat ingredient", Caroline Mak, Senior Director at Big Idea Ventures.
"Closing the seed round in today’s fundraising environment validates the achievements of our technological approach and the efforts of our team. With a consortium of experienced Biotech and Foodtech funds on board, we look forward to benefit from both areas of expertise when scaling up to the next TRL and entering our first markets", George Zheleznyi, Co-Founder and Managing Director of Cultimate Foods.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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.
