Novameat Launches Shredded Plant-Based Beef – And Raises €17.4M

Novameat, a plant-based food tech company based in Barcelona, has raised €17.4 million in funding and is set to launch a new shredded plant-based "beef" product. This investment marks the company's first major venture capital financing, known as Series A funding, and will be used to expand its business by scaling up production capacity and investing in research and development. The Shredded Nova-b*ef product, made from pea and fava protein with 19.9 percent protein content and 5.1 percent fiber, is described as reminiscent of braised short rib stripped and shredded from the bone.

Utilizing biomimetic 3D design and micro-extrusion technology, Novameat creates meat-like textures and flavors from plants, producing a range of plant-based meat alternatives including shredded and whole-cut options. The company supplies food producers, catering companies, and restaurants in Europe, focusing on providing healthy, high-protein plant-based alternatives. Investors like Forbion's BioEconomy Fund see significant potential in Novameat's products and innovative technology, recognizing the company's contribution to solving global sustainability issues through plant-based foods.