Scaling Up Alt Meat Production
MATR Foods, a Danish startup, has raised $47 million to scale up its operations in producing meat alternatives via solid-state fermentation.
The funding, consisting of €20 million equity from Novo Holdings and the Export and Investment Fund of Denmark, and €20 million in debt from the European Investment Bank (EIB), will be used to build a 4,000-ton plant in Jutland, expected to come online in 2027.
MATR Foods inoculates "boiled and chopped" ingredients such as peas, lupins, beets, potatoes, and oats with fungi spores, increasing protein levels, binding the ingredients together, and creating savory, umami flavors.
- Current production capacity: 30 tons per year
- New plant capacity: 4,000 tons per year
- Expected online date: 2027
Author's summary: MATR Foods secures $47m funding.