Participated · Series B · Feb 2024

Heura Foods is a Barcelona plant-based foodtech company founded in April 2017 that develops branded meat alternatives and plant-based products across deli meats, whole cuts (meats and fish) and dairy. In April the company filed its first patent for additive-free formulations delivering new nutritional values that can be applied across multiple plant-based categories. Heura closed a €40M Series B to accelerate product and tech development. Investors joining the round include Upfield, Unovis Asset Management, the European Circular Bioeconomy Fund (ECBF VC) and New Tree Impact. The company plans to use the funding to drive R&D, expand its portfolio of tech patents, pursue tech licensing, accelerate international expansion and move toward profitability. The new investor coalition will form a board focused on high-quality technology to set industry standards and enable collaboration beyond Heura’s branded meat alternatives. Heura Foods is a Barcelona-based plant-based food tech startup that develops plant-based food solutions rooted in scientific discoveries and breakthrough technologies while upholding Mediterranean culinary traditions. The company emphasizes high nutritional density, positive climate impact and exceptional taste in its products. Led by CEO Marc Coloma, Heura is expanding the plant-based category across Europe and beyond, including Canada, France, Germany, Hong Kong, Italy, Mexico, Sweden, Switzerland, Singapore, the Netherlands and the United Kingdom. It has entered major retailers including Ocado (UK), Migros (Switzerland), Carrefour (Italy) and E.Leclerc, Intermarché and Super U (France), with additional partnerships to be announced later in the year. Heura reported €14.7 million in turnover mid-year, up from €7.6 million in the same period last year, its most successful first half in its five-year history. The company intends to use the new funds to accelerate growth, expand operations and broaden its business reach.

Participated · Seed · Feb 2022

Change Foods develops animal-free dairy proteins via precision fermentation, aiming to replace cow’s milk components such as casein with vegan alternatives. The company is working to upcycle sugarcane fibre (bagasse) into a domestically sourced, low-cost feedstock to drive down production costs and support a circular economy. Feedstock development will be conducted by Change Foods in partnership with Queensland University of Technology (QUT) and is intended to reduce reliance on animal agriculture. Funding includes a $1 million grant from the Australian Commonwealth Government and a $12 million seed extension (total seed financing now $15.3 million), with all funding channelled into R&D. Change Foods relocated to Silicon Valley and operates from BioCube San Jose while preparing for a planned commercial launch in 2024, though the feedstock work has delayed projected timelines. The company’s strategy emphasizes lowering emissions by displacing livestock-based dairy and achieving price parity through cheaper, upcycled feedstocks. Change Foods uses precision fermentation to produce dairy proteins, notably casein, with the goal of creating real cheese without animals. The company positions itself to transform the global cheese business by delivering the taste and eating experience of traditional dairy while avoiding impacts of industrial animal agriculture. It is pursuing product expansion into animal‑free milk, yogurt, and ice cream as follow‑on opportunities. Change has signed strategic collaboration agreements with Upfield and Sigma to accelerate product development, scaling, and distribution. Financially, Change completed an oversubscribed seed extension that brought total seed investment to $15.3 million. The company plans an initial market launch in late next year. Change Foods uses precision fermentation to produce real dairy cheese proteins without cows, targeting the US market. The company plans a modular approach to dairy that could expand beyond cheese into cream and yogurts. It intends to scale up its technology and compounds and complete its first cheese prototypes. Change Foods is setting up a Bay Area R&D facility and has relocated its executive team to the Bay Area after establishing a US company from Melbourne. The startup has recruited industry hires, including a former Eat Just VP of Manufacturing and an executive from Danone. Change Foods has raised capital to support scale-up, prototyping, facility setup, and team growth. Change Foods uses fermentation-based biotechnology to create dairy products without cows, aiming for end products that match conventional dairy in taste and texture. The company is led by founder and CEO David Bucca and has hired Irina Gerry (formerly of Danone/Silk) as CMO to shape brand and go-to-market strategy. Gerry joined the company as a keynote speaker at the Alt‑Dairy Conference and brings experience launching plant‑based platforms and marketing consumer food brands. Change Foods recently closed a second funding round of $875K, backed by high‑profile investors from Google and individual backers including Twitter’s Maya Hari, Michal Klar, Simon Newstead, Tom Crago, Vikas Garg, and others. The company plans to raise an additional $5M in Q2 2021 to support commercialization and growth. The team emphasizes consumer acceptance, branding, and product positioning as critical to market success. Change Foods is developing animal-free dairy products using microbial biotechnology to produce proteins and fats identical to those in conventional dairy. The startup is focusing particularly on cheeses, aiming to replicate taste and texture more convincingly than plant-based alternatives. Its products will be lactose-free, hypoallergenic, hormone-free, and are expected to have a much longer shelf-life due to the production method. Founded in Australia in 2019, Change Foods relocated its headquarters to San Francisco in May while retaining research and development in Australia. Recently the company received funding from angel investor Simon Newstead; the article does not disclose the amount. Change Foods faces competition from companies such as Remilk but believes it can convince omnivores to switch by offering dairy-identical alternatives with no compromise on taste, function, or texture.