On the 14th of September, Rival Foods announced its €6 million Serie A investment. This investment is led by PeakBridge, and joined by Roquette Ventures. PeakBridge and Roquette Ventures were chosen as strategic investors, given their deep domain expertise in Foodtech, and specifically in alternative protein technologies upscaling. Rival Foods will use this funding to develop category-winning products, expand its operational capabilities, scale-up its unique technologies and develop new formulations with next-gen protein sources. Moreover, Rival Foods expects to bring first products to market in the second half of 2023.
More than ever, consumers are demanding plant-based protein products that are as delicious, nutritious and affordable as animal-derived meat products. Nearly half of flexitarians (45%) think that there are not enough plant-based choices in supermarkets and restaurants[1]. One of the biggest white spaces in the alternative protein space is the knowledge and technology needed to produce thicker, 3D plant-based meat products that more accurately mimic animal products like chicken breast, pork chop, and salmon filet[2]. The market for whole-cut meat products is vast and currently underserved by alternative proteins. Moreover, consumers are seeking clean label products and that today’s alternatives have often have a long ingredient list is undesired.
Rival Foods jumps in this white space by offering the true whole-cut experiences in size, texture, juiciness and taste. Rival Foods develops new technologies, machines, processes and product formulations that serve to create game-changing plant-based food products which outcompete animal protein on quality, health, environmental impact and cost. Rival’s production process transforms a wide variety of plant-based ingredients into high-quality textured protein foods with an unparalleled fibrous texture, rich mouthfeel and juiciness, using very few clean-label ingredients. Rival Foods center of plate products are a nutritious, benign and sustainable alternative to whole-cut animal products.
About Rival Foods
Rival Foods is a technology spin-off company from the Wageningen University & Research founded in 2019 by Birgit Dekkers and Ernst Breel with the mission to enable uncompromised plant-based eating experiences around the world. Thereto, Rival Foods develops new technologies and processes to deliver the world’s best plant-based whole-cuts and future products. Rival Foods can transform a wide variety of plant-based ingredients such as soy, pea, wheat, fava, sunflower, rapeseed, etc. into products with great texture, rich mouthfeel and juiciness, making a future-proof proposition for the food industry and consumers.
Aside from technology, Rival Foods also works together with leading chefs, food professionals and industry players. In these collaborations, Rival Foods explores opportunities to create exciting eating experiences that fit with local food culture and make animal products obsolete.
To find out more, go to: https://rival-foods.com/
Rival Foods : info@rival-foods.com
About Peak Bridge
PeakBridge is a pioneering global fund manager in the Agri-FoodTech sector, focusing on scalable, and ESG-positive seed and growth companies with protectable technologies. PeakBridge invests in and works with entrepreneurs who are the true stewards of the food innovation and technology necessary to nourish people in the most sustainable and efficient way. PeakBridge invests in and supports the growth of startups with a focus on impacting key areas of ingredient innovations, alternative protein technologies, digitization, nutrition and health and novel farming systems. PeakBridge is a core member of EIT Food and a partner of Edmond de Rothschild Private Equity.
To find out more, go to: https://peakbridge.vc/
About Roquette Ventures
Founded in 2015, Roquette Ventures is an investment company supporting pioneer innovations for Food, Nutrition and Health markets. As a long term strategic partner, Roquette Ventures helps the companies they invest in to accelerate the development of their projects and boost growth. Roquette Ventures invests in inspiring, passionate and forward looking teams and in projects that develop the best natural-based innovations for Food, Nutrition and Health markets, anywhere in the value chain. Roquette Ventures is driven by the desire to invest in innovative companies with a strong growth potential throughout the world.
To find out more, go to : https://fr.roquette.com/roquette-ventures
[1] ProVeg consumer research
[2] The Good Food Institute