Heura CEO: Our current priority is not to become cash-positive, but help improve the food system
Company primed to launch second crowdfunding round to support international expansion
Spanish alt-protein start-up Heura Foods is committed to “continuing to improve the food system” over becoming cash positive, CEO Marc Coloma has said.
Speaking to NutritionInvestor ahead of Heura’s second crowdfunding campaign launch, Coloma said: “As a mission-driven business, we will continue to invest our revenue into accelerating change and providing plant-based successors to more and more consumers internationally.”
The company raised €16 million in its Series A in 2021 via both retail investors and sector specialist VCs New Crop Capital and Unovis.
It is seeking to raise an additional €1 million in its latest crowdfunding round, which will go live on Crowdcube on 14 April.
Earlier in April, the company said its upcoming investment would help fund the development of an updated production and R&D lab, enable the company to expand its R&D team and launch its products into new geographical markets.
Its suite of plant-base meat alternatives is currently available in 20 European countries, but Heura is committed to international expansion, Coloma said.
“We are now committed to creating an international presence reaching new markets; with a special focus on flexitarian consumers,” he said.
“As we continue to grow, we will also continue to prioritise achieving price parity to help make plant-based foods more accessible to all.”
Coloma has projected the company will grow 200% year-over-year in the next 18-months and an 100% in 2025.
“For us, sustainability and growth are intrinsic to outstanding business practices,” he said.
“In 2021, the company saved 634.4 million liters of water, 1.4 million kilograms of Co2 emissions, and 80,280 animal lives. We expect these figures to grow as we continue to expand. By 2025, we will have more than 1000 employees fighting for a more sustainable planet with over €500 million in revenue to support our mission,” Coloma concluded.
Update: Heura Foods surpassed its €1 million in the first couple of hours of its Crowdcube campaign launch, raising over €4 million. in total.