FRANCE -French food tech company Umiami has successfully closed a US$34.7 million financing round aimed at accelerating its global expansion in the rapidly growing plant-based food industry.
The funding is set to support the industrialization of Umiami’s groundbreaking “umisation” technology, expedite its European distribution, and facilitate entry into the lucrative US market.
According to the company, Umiami’s innovative “umisation” technology is at the forefront of plant-based meat and fish alternative production.
“Umisation promises to deliver products with a taste and texture nearly indistinguishable from their animal-based counterparts while maintaining equivalent nutritional value,” it noted.
“Our approach utilizes fewer than ten ingredients and avoids the use of controversial additives or texturizing agents, making it an appealing choice for flexitarians, vegetarians, and vegans alike.”
Tristan Maurel and Martin Habfast, co-founders of Umiami, expressed their excitement about the funding, highlighting that the funding will enhance revolution in the food industry by offering sustainable and tasty alternatives to meat-based products.
He noted the company’s readiness to shape the future of food tech and expand their reach into the US market.
Additionally, Umiami is set to scale up its operations with the inauguration of a new factory in Alsace, France.
The facility will have the capacity to produce 7,500 metric tons per production line, with plans to increase production to 20,000 metric tons over time.
Concurrently, Umiami is committed to ongoing innovation through its Research and Development Center, where it plans to introduce a range of new plant-based products.
Following a successful launch in Switzerland earlier this year, Umiami’s expansion strategy is advancing across Europe’s well-established plant-based food markets.
The company has already expanded in the foodservice industry across various European countries, including Switzerland, Belgium, the Netherlands, Spain, and Italy, where its plant-based chicken fillet has garnered acclaim among culinary professionals.
“Umiami is offering an upmarket range of plant-based fillets,” Jean-Philippe Richard, deputy director of the SPI fund, which supports Umiami’s development strategy, commented.
“It enables us to boost reindustrialization in France while enhancing the country’s reputation for agri-food expertise internationally through the development of cutting-edge initiatives serving healthy, traceable food with a low carbon footprint.”
He highlighted Umiami’s aspirations to capturing the attention of the US market.
“Despite being in the early stages of development, the plant-based food sector in the US continues to experience robust consumer demand, driven by health-conscious choices and environmental considerations,” he added.
“While the plant-based meat market faced challenges such as highly processed products and varying taste and texture profiles in the past year, Umiami aims to address these issues by offering a more appealing and satisfying plant-based chicken fillet, poised for success in the US market.”
