Vegan meat innovator Heura has closed a record funding round that will fuel the next stage of its journey.
The €40 million ($43 million USD) investment will help the Spanish company transform the global food system, according to the company. Heura’s Series B raise was the largest plant-based funding round in 2023.
With rapid growth in Spain and elsewhere, Heura aims to use its unique technology to strengthen its industry position.
Marc Coloma, CEO and co-founder of Heura, told Plant Based News (PBN): “This milestone propels Heura towards our vision of leading Europe’s protein revolution.”
Heura spearheading the protein transition
Heura is a leading vegan meat brand with a range of innovative plant-based products. Its vegan meats are made of legumes and pack in a lot of protein with very low saturated fat. Founded in Barcelona in 2017, Heura is present in more than ten countries, including the UK, Austria, and Mexico.
Last year, Heura released additive-free, York-style plant-based ham slices. It also has popular chorizo and chicken products, including nuggets, burgers, and sausages. Previously, Heura has been a hit with investors too. For example, in 2022 it raised €4 million in 12 hours.
Funders in the latest round included Upfield, the Dutch food company that owns Flora, and Unovis Asset Management, which has investments in brands like Beyond Meat and Wicked, ECBF VC, and Newtree Impact.
According to Heura, the new investors will allow the brand to push the boundaries of plant-based food technology. They will also help accelerate innovations in plant-based cheese and boost Heura’s international presence.
“This pivotal move isn’t just about offering meat alternatives,” Coloma added. “It’s about wielding our disruptive, scalable tech to spearhead the protein transition, empowering the entire food industry with innovation.”
Technology integral to the future of food
Technology is at the forefront of Heura’s strategy. The company plans to explore tech licensing with the aim of driving broader change in the food system.
“To truly transform the food system, we must shift the narrative from consumers to the food industry,” Coloma told PBN. “This exciting new chapter not only propels us towards profitability but also propels our journey in pioneering breakthrough technology to address industry challenges at a global scale.”