Heura Foods, recently awarded ‘Barcelona Small Business (PYME) of the Year 2023‘ by Santander Bank and the local chamber of commerce, announced that it completed a Series B round of €40 million.

The round included Upfield, a manufacturer of plant-based products, and investment funds Unovis Asset Management, European Circular Bioeconomy Fund (ECBF VC), and Newtree Impact. 

These investors are supporting Heura Foods in its efforts to develop proprietary technology, with patented solutions that can address key challenges in the industry on a global scale. The company is also projecting a profitable year ahead, according to a company statement. 

“This achievement elevates Heura’s vision to be at the forefront of the protein transition in Europe. To change the food system, we need to shift the current pressure on consumers to the food industry, placing health and sustainability as non-negotiables,” said Marc Coloma, CEO and co-founder of Heura Foods. 

“This new chapter will lead us to profitability and, at the same time, allow us to develop innovative technologies to address key challenges within the industry in a scalable way”, he concluded.

Huera Foods co-founders Marc Coloma & Bernat Añaños.

The demand for plant-based food is increasing rapidly

Founded in 2017 by Bernat Añaños and Marc Coloma, the company seeks to empower people in the transition to change the current food system for a more sustainable, healthy, and nutritious one, leading the alternative protein industry in Spain, while advancing its expansion into markets such as the UK, France and Italy. 

Of course, Generation Z and Millennials are generally quite committed to conscious consumption. This means that when it comes to buying products, they are more mindful of things like environmental sustainability and the social responsibility of brands.

This mentality is also beginning to generate a change in eating habits. It was found in 2019 that nearly half of the Spanish population (49%) had consumed vegan products, although many are neither vegetarian nor vegan, but simply seeking healthier and more sustainable diet options. This change is reflected in the growth of the plant-based protein market, which is expected to reach a global value of $19.6 billion by 2032.

Heura takes animals out of the meat production equation to solve some of the biggest challenges of the current century such as the climate crisis, health issues, and animal rights, all from clean-label products that promise high nutritional value and a taste similar to animal protein. 

Heura is currently present in more than 22,000 points of sale across 20 countries worldwide.