The Barcelona-based producer of plant-based beef and chicken products registered a turnover of €8 million last year
Marc Coloma, co-founder and chief executive of plant-based meat producer Heura Foods, has revealed that the company’s Series A funding round could close around April and that investors can still join the round, Mergermarket has reported. The company expects to raise double-digit million euros in this round.
Headquartered in Barcelona, Spain, Heura Foods produces chicken and beef products. The plant-based chicken line comprises five SKUs based on different flavours – spiced and Mediterranean chunks, spiced tacos, original strips, and original chunks. The two SKUs in the beef line are meatballs and burgers.
Products are sold in-store and online in Europe. Coloma revealed the company saw €8 million turnover in 2020, and that most of the sales (95%) come from Spain, but also from the UK, France, Italy and Mexico.
Coloma founded the company alongside Bernat Añaños in April 2017. The entrepreneurial duo decided to bring a solution that could leave the current food system obsolete and accelerate the shift to a world where the animals are out of the meat production equation.
Upon closing the Series A round, the cash injection will be used to further expand the business, supporting R&D, recruitment and international expansion.
Coloma reported that Heura’s sales in 2020 were up from €2.5 million in the previous period and that the company expect to close the year with at least €20 million.
The company’s follower base on social media is a testament to the traction of the brand in the market. Heura’s LinkedIn page is followed by more than 18,000 people while Facebook, Twitter and Instagram combined total 16,000 followers.
Heura is a portfolio company of New Crop Capital, the fund managed by Unovis Asset Management.
Date published: 4 February 2021