- Oversubscribed financing round co-led by Forbion’s BioEconomy fund strategy, which focusses on biotech companies that address planetary health challenges, together with Sofinnova Partners and existing investors
- Funding will enable Novameat to scale production capacity through its proprietary MicroForce technology
- Alex Hoffmann, General Partner at Forbion to join Novameat Board of Directors with Joy Faucher, Partner at Forbion appointed as Board Observer
Naarden, The Netherlands, 12 September, 2024 -- Forbion, a leading global life sciences venture capital firm with deep expertise in Europe, today announced it has co-led a €17.4m Series A Financing of Novameat, a sustainable food technology company creating pioneering plant-based products with a unique fibrous texture and strong customer acceptance. The financing was co-led by Forbion via its BioEconomy fund strategy and Sofinnova Partners, with participation from existing investors Unovis Asset Management, Praesidium and Rubio Impact Ventures. Alex Hoffmann, General Partner of Forbion’s BioEconomy fund strategy, will join the company’s board of directors. This round of funding will enable Novameat to scale production capacity using its proprietary MicroForce technology, expand its product offerings, and enhance its market presence globally.
This round of funding will be used to increase commercial activities in new regions with an expanded product portfolio, including Novameat’s the new Shredded Nova-b*ef, officially being launched on the 16th of September. The capital will also be used to further scale production and accelerate research and development efforts, enabling the company to continue leading in the field of sustainable, high-protein products.
Novameat’s proprietary technology is truly groundbreaking. We see significant potential, not only in their current products, but also in the pipeline of innovations they are developing. We are excited to work with the Novameat team as they continue to push the boundaries in plant-based foods and contribute to solving critical planetary sustainability issues.
Alex Hoffmann
General Partner at Forbion for its BioEconomy Fund
We are delighted to close this Series A round and are grateful for the confidence shown by our new partners and the continued support of our existing investors. This funding marks a significant milestone in our journey and we are more committed than ever to empower people to prioritise their wellbeing and our planet. It’s great that this coincides with the launch of our new Shredded Nova-b*ef, which has received incredibly positive feedback in the market.
Giuseppe Scionti
CEO and Founder of Novameat
Since its inception, Novameat has brought several innovative products to market across Europe, industrially scaled its proprietary MicroForce technology, which creates the signature texture, and modified the production facility to meet stringent BRCGS (Brand Reputation Compliance Global Standard) requirements. The company's unique B2B approach and technological scalability has attracted the attention of large foodservice customers and industry players, positioning it as a leader in the future of the plant-based proteins, in a market that is increasingly looking for healthier and more exciting options.
For more information, please contact:
Forbion Investor Relations
Email: Robbert.van.de.Griendt@forbion.com
General Partner IR & Impact
Forbion Communications
Email: laura.asbjornsen@forbion.com
Head of Communications