MATR Foods Secures $47m to Scale Alternative Meat Production
MATR Foods, a Danish startup, has raised €40 million ($47 million) to scale up its operations in producing alternative meat via solid-state fermentation.
The funding, consisting of €20 million in 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 establish a 4,000-ton plant in Ansager, Jutland, expected to be operational by 2027.
According to MATR Foods cofounder Randi Wahlsten, the new plant will significantly increase production capacity.
- The current pilot plant produces 30 tons per year.
- The new plant will utilize solid-state fermentation to produce alternative meat from legumes, vegetables, and grains.
- Ingredients such as peas, lupins, beets, potatoes, and oats are inoculated with fungi spores to increase protein levels and create savory flavors.
Author's summary: MATR Foods raises $47m to scale alternative meat production via solid-state fermentation.