Spanish food tech firm Heura has secured a €20m loan from the European Investment Bank to support the company’s development of plant-based products across several categories.
The fresh capital will also help the business scale up production capacity as it invests in equipment at its laboratories and co-manufacturer facilities in Spain.
Heura’s latest fundraising follows a €40m Series B round in early 2024.
Founded in 2017 by Marc Coloma and Bernat Añaños, Heura’s range of meat alternatives are available in Waitrose and Planet Organic in the UK.
Last year, the company unveiled its first prototypes of cheese, snacks and pasta as it used patent-pending technology to expand into new food categories.
“Innovation is our tool to live longer and better, CEO Marc Coloma said. “We are committed to simple processes, legumes, healthy fats and science in the service of collective wellbeing. Our goal is to democratise food that is tasty, nutritious and aligned with today’s challenges.”
Nadia Calviño, president of the EIB Group, added: “The EIB’s support for innovation and biotechnology is key to Europe’s technological leadership. With this agreement, we are boosting the dynamism of the startup ecosystem in Spain and Europe and responding to new consumer needs by developing new sustainable food products.”
Alessandro Izzo, EIB director of equity, growth capital and project finance, said: “This financing agreement with Heura is a clear example of how the EIB is stepping up its support for companies that are at the forefront of the bioeconomy, driving innovation and sustainability across the entire value chain. By investing in the development of new plant-based foods products, the EIB is also contributing to a healthier, more sustainable food system in Europe and to the overall food security of the European Union.”
The EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilise more than €372bn of additional public and private sector investment to support policy goals from 2021 to 2027.
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