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Mö Foods has raised €2.4 million in new funding, which it will use to scale its plant-based cheese products and expand internationally.
The Finnish startup is specifically looking to accelerate growth by growing its team and output. Mö Foods makes several plant-based cheeses using local oats and a proprietary production process inspired by traditional cheese making.
Read more: Caribou Coffee Cuts Plant-Based Milk Surcharge At All US Stores
Mö Foods raised the €2.4 million (approximately USD $2.8 million) in a fundraising round led by Nordic Foodtech VC, with participation from Business Finland and private investors, earlier this month. According to the startup, the new investment will help scale its cheese-making technology and expand the team.
Mö Foods was founded by siblings Annamari Jukkola and Marjaana Vuorio, who grew up on a dairy farm. They say that their oat-based cheese matches dairy on flavor, texture, and performance, with a short ingredient list and minimal processing.
Where traditional dairy is one of the single most resource-intensive foods on the planet, Mö’s oat milk base is efficient, nutritious, and sustainable, and uses the entire oat. The company is also preparing to license its technology to major European food producers, a model designed to accelerate adoption across the category.
“Our goal at Mö has always been to create foods that reflect how people eat today: good food at a fair price, made responsibly,” said Jukkola, CEO and co-founder of Mö. “Growing up on a dairy farm gave us a respect for how cheese is made, and also for the value people place on it. We’re bringing that same quality and care to a new process, using oats to make something familiar, but lighter on resources. This funding helps us do that at scale.”
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The growth of Mö Foods, plant-based cheese, and new flavors
According to Mö Foods, its growth has significantly outpaced the wider plant-based cheese category. In 2024, the company’s retail sales grew 88 percent year over year, which it says was driven by expanded distribution and new products.
Mö’s lineup includes: MÖ DREAMY, which comes in plain, garlic, and lemon curd flavors; MÖ GREEK, which is available in Classic and Mediterranean Herb flavor; MÖ GOUDA, which replicates its namesake; MÖ MOZARELLA, which is pre-grated and meltable; and MÖ CHAVRE, the first goat-style “cheeze” ever made from oat milk.
Read more: The Plant-Based Dairy Market Could Reach $34 Billion By 2030, Say Experts
