Umiami products
In the dynamic world of foodtech, few European companies have made as big a splash as Umiami (RACVI), the French company specializing in plant-based meat and fish alternatives. Today, we're delighted to double-down on our support for Umiami by contributing to its €32.5M Series A extension financing round. The round will be used to meet three key objectives: To boost the industrialisation of Umiami's cutting-edge technology, speed up its distribution in Europe, and support its expansion in the US.
The round was led by the SPI (Sociétés de Projets Industriels) fund and French Tech Seed, both managed by Bpifrance (Banque Publique d'Investissement), with Astanor Ventures, Newfund, and VERSO Capital contributing. This new round takes Umiami’s Series A to a total of €59M and its total funding to €100M since launching three years ago.
Tristan Maurel (CEO) and Martin Habfast (Export Director), cofounders of Umiami, said: "We are extremely proud of the huge success of our Series A, and of the confidence that our investors and partners have placed in us. This round of funding will enable us to continue our mission to revolutionise the food industry by offering sustainable and tasty alternatives to meat-based products. We are also delighted to announce our expansion into the US, where we are determined to bring our innovation to American consumers. With our exceptional team and cutting-edge technology, we're ready to shape the future of foodtech."
Headquartered in Paris, at the heart of Umiami's success is its groundbreaking "umisation" technology, which provides one of the few real alternatives to the current market standard - extrusion. This proprietary process perfectly mimics the taste and texture of meat and fish, all while maintaining exceptional nutritional value. Notably, Umiami achieves this with fewer than 10 ingredients and avoiding texturizing agents such as methylcellulose or controversial additives. This innovation is truly a game-changer and a first of its kind globally.
Umiami is gearing up for an ambitious future. One of the most exciting developments is Umiami's entry into the United States. To lead this initiative, Umiami has recruited John Hatto as Managing Director for North America. John brings over 30 years of experience in the food and beverage industry, including senior positions at Lamb Weston and PepsiCo. His expertise will be instrumental in Umiami's quest to conquer the American market.
Alongside its US expansion, Umiami is also further building out its presence in Europe, including by launching in Switzerland - Umiami filets are now available in hundreds of Coop stores across the country - and opening a new factory in Alsace. The facility boasts a production capacity of 7,500 tons per production line, with plans to increase it to 20,000 tons over time. By opening this factory, Umiami is not only contributing to the revitalization of the region but also fostering local job creation.
As early investors, partners, and supporters, we are excited to witness Umiami's journey towards becoming a global leader in plant-based meat and fish. We look forward to seeing how the incredible team continues to contribute to a more delicious and sustainable future.
Read more about the funding in Tech.eu.