Lab-grown animal fat start-up is preparing a multi-million Euro capital raise four months after closing its €750,000 Seed round
Lab-grown animal fats start-up Melt&Marble is preparing to approach VCs in a second funding round this year as the company looks to scale it technology and commercialise its offering.
The start-up will seek to raise between €5 million and €7 million at the end of this year, co-founder and CEO Anastasia Krivoruchko told NutritionInvestor.
“The exact amount is still a discussion point as we are questioning whether we want to do it all at once or whether it includes both VC money and soft-funding,” Krivoruchko said.
The company uses precision fermentation to produce animal fats. It is currently trialling an iteration that will be added to plant-based meat-alternatives to enhance taste and texture.
Melt&Marble closed a €750,000 seed round in August, which was led by Nordic FoodTech VC, food giant Paulig’s venture arm PINC, Purple Orange Ventures, and Chalmers Ventures.
“The next round will be a bit bigger and focus more on scaling the technology and doing extensive application testing and improve production costs,” Krivoruchko said.
“The first round was really to focus on the company building aspect; to launch our new mission plan focusing on fats for plant-based foods, to bring in some additional competencies, to refine the business plan and get our first prototype,” she added.
The company expects to provide its product and technology to foodtech businesses covering various sections of the value chain, from B2C businesses preparing and selling alt-protein products to consumers, to those that are developing ingredients solutions including fats and oils.
“There is a lot of possibility for collaboration with different partners,” Krivoruchko said.
The company expects to secure B2B commercial partnerships once it has scaled its technology and is producing enough samples to complete an application.
Date published: 12 October 2021