Rival Foods, a trailblazing Dutch biotech startup, has successfully secured a robust $11.6 million in a Series B funding round—a pivotal stride that promises a seismic shift in the plant-based protein industry. The increased capital will supercharge the expansion and optimization of Rival Foods’ pioneering utilization of shear cell technology, a game-changing approach to the production of plant-based whole cuts.
This innovative technology, a novel method for texturizing plant-based proteins, enables the creation of whole cuts that strikingly mimic the texture and appearance of traditional animal-derived cuts. The aim? To cater to the burgeoning global demand for sustainable protein sources. By fine-tuning the scaling process of shear cell technology, Rival Foods is set to revolutionize production efficiency and cater to the surging market interest in alternative proteins.
Distinguished pension investor, APG, led the funding round on behalf of ABP, with additional participation from Pymwymic, ROM Utrecht Region, and follow-on investment from existing shareholder PeakBridge. This financial boost will catalyze Rival Foods’ capacity to double production at its facility in Geldrop, hire new team members, and bolster international growth.
“Rival Foods’ production technology is a game-changer. Its products are best-in-class while the production process allows price parity with animal protein,” said Juri van Dolderen at ROM Utrecht Region. Martina Pace, COO at PeakBridge, echoed these sentiments. She extolled, “Real success in the alternative protein space demands tough things to master: great taste and texture, real nutrition, and competitive prices. We’re proud to see Rival Foods achieving all of them.”
Rival Foods, a spinoff from Wageningen University founded by Dr. Birgit Dekkers and Ernst Breel in 2019, already supplies alt-chicken and beef whole cuts to an array of restaurants in The Netherlands and Germany. This successful funding round marks a significant leap forward in the company’s mission to drive innovation in the alternative protein market.
As consumer preferences evolve towards healthier and more sustainable options, the development and application of technologies like shear cell tech are becoming increasingly pivotal in reshaping the food industry. By leveraging this cutting-edge technology, Rival Foods is well-positioned to lead this revolution, contributing to a more sustainable and environmentally-friendly future for food production.
The substantial investment in Rival Foods signifies a broader industry shift towards sustainable food technologies. It underscores the growing recognition of alternative proteins not just as a niche trend, but as a transformative force poised to redefine the global food industry. This funding milestone propels Rival Foods to the forefront of this transition, equipping it with the resources to build a resilient, sustainable, and flavorful future of food.
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