London-based Adamo Foods, a food-tech startup, has announced a successful raise of £2 million in its Seed funding round. The round was co-led by UK Innovation Science and Seed Fund (UKI2S) and managed by Future Planet Capital and Joyful Ventures. This financial boost will enable the company to fast-track the production of its fungi-based, ultra-realistic beef steak alternative. Adamo Foods aims to disrupt the plant-based meat market by offering a product that closely mimics the texture and taste of traditional whole-cut meats.
In earlier reports on Adamo Foods, the focus was on the company’s proprietary fermentation process and its potential to revolutionize the plant-based meat industry. Previous funding rounds have also highlighted the company’s commitment to sustainable and nutritionally superior products. The latest funding will not only help scale production but also expand the team and diversify the product range to include chicken breast alternatives.
Additionally, past announcements emphasized Adamo Foods’ significant reduction in greenhouse gas emissions compared to conventional beef, aligning with global sustainability trends. This latest funding round reiterates the company’s strengths while adding new layers of potential market impact.
Investment and Market Impact
Hassan Mahmudul, Investment Manager at UKI2S, commented on the uniqueness of Adamo’s product.
“Adamo’s whole-cut meat product has the potential to be highly differentiated in the market compared to current plant-based alternatives. I am excited to see this product in the market.”
The funding is expected to accelerate production capabilities and strengthen the company’s position in the burgeoning market for meat alternatives.
Strategic Expansion
Pierre Dupuis, Founder and CEO of Adamo Foods, emphasized the importance of the new investment.
“This is a pivotal moment for Adamo. We’re thrilled to have such experienced investors with deep foodtech expertise on board. This funding will allow us to scale our production to pilot-scale and bring our clean-label products closer to consumers.”
The company plans to broaden its product range and expand its team with senior food industry experts.
Founded by Pierre Dupuis, Adamo Foods specializes in food technology, crafting innovative alternatives to whole-cut meats. Utilizing a proprietary fermentation process, the company produces mycelium fibers that closely replicate the muscle structure of traditional meat. The resulting fungi steaks, made from just five natural ingredients, are free from plant off-notes and artificial binders like methylcellulose.
These fungi-based steaks are not only flavorful but also nutritionally superior, boasting high protein and fiber content with zero cholesterol. Furthermore, Adamo Foods claims its product achieves a 93% reduction in greenhouse gas emissions compared to conventional beef. The company plans to launch its first product in the UK with a limited pilot before expanding across Europe.
As Adamo Foods prepares for its initial product launch, the company’s advancements in sustainable and nutritious meat alternatives offer a promising outlook. Leveraging the latest funding, Adamo is well-positioned to scale production and diversify its product offerings. The company’s commitment to reducing environmental impact while providing high-quality food options will likely resonate strongly with eco-conscious consumers and investors alike.
