France’s plant-based chicken start-up Umiami has secured an additional €32.5m ($34.1m) in funding, bringing its total financing to €100m. The company, founded in 2020 by Tristan Maurel and Martin Habfast, plans to use the funds to open a new factory in Alsace, France, with an initial capacity of 7,500 tons, expanding to 20,000 tons over time. The latest round of financing was led by an investor consortium that included Sociétés de Projets Industriels (SPI), a government-related fund in France managed by investment company Bpifrance, which is supported by the European Investment Bank.
Umiami’s unique protein texturising process for its plant-based chicken breasts has garnered attention and earned the company additional “non-dilutive” financing of €43m from the French government’s 2030 economic and investment programme. The start-up also plans to invest in and launch new products developed at its R&D site in Paris.
The company aims to revolutionise the food industry with its “umisation” technology, which produces meat alternatives with under ten ingredients, void of texturising agents or controversial additives. With the newly secured funding, Umiami intends to scale its operations and expand into the US, appointing John Hatto, a former executive at Lamb Weston and PepsiCo, as Managing Director for North America.
Umiami has already established its presence in European foodservice, entering markets in Switzerland, Belgium, the Netherlands, Spain, and Italy. Its products are also available in retail channels, though specific listings and market details are yet to be confirmed.
The Series A funding round was supported by returning investors Astanor Ventures, Redalpine, Newfund, and Verso Capital. Jean-Philippe Richard, Deputy Director of the SPI fund, noted the significance of supporting Umiami’s industrialization in France, contributing to the development of cutting-edge initiatives focused on offering healthy, traceable food with a low carbon footprint.
Umiami’s founders expressed excitement about this funding round, affirming their commitment to providing sustainable and delicious alternatives to meat-based products. They are determined to bring their innovative solutions to American consumers, with John Hatto’s industry expertise and leadership guiding the company through this expansion into the US.