MATR Foods, a pioneering foodtech startup based in Denmark, is actively addressing the urgent challenges posed by the global food system, particularly in relation to meat production and its environmental impacts. The company has recently completed a significant fundraising round totaling €40 million, which includes €20 million in Series A equity and another €20 million in venture debt. This funding marks the largest foodtech financing deal in Denmark to date and has been co-led by Novo Holdings and the Export and Investment Fund of Denmark (EIFO), with additional support from the European Investment Bank (EIB). The infusion of capital is set to enable MATR Foods to enhance its production capabilities, expand into international markets, and reinforce its leadership in the plant-based protein sector.
Innovative Solutions for Sustainable Eating
Founded in 2021 by a team of experts including Morten Sommer, a microbiology professor at the Technical University of Denmark, and renowned chef Claus Meyer, co-founder of the celebrated restaurant Noma, MATR Foods is committed to making sustainable eating both accessible and enjoyable. The leadership team also includes Rasmus Toft-Kehler, a serial entrepreneur in the biotech space, and Randi Wahlsten, who previously held an executive position at Arla Foods. The company operates under principles that prioritize local sourcing, transparent supply chains, and waste reduction.
At the core of MATR Foods’ innovative approach is a solid-state fungal fermentation technology that processes organic crops native to the Nordic region, such as oats, split peas, lupins, beetroots, and potatoes. This process not only enhances flavor but also creates a meat-like texture, drawing on the natural binding properties of the fungus’s mycelial network. The flagship product, MATR Fungi Mince, is nutritionally robust, boasting high protein and fiber content while remaining low in fat. Unlike many competitors in the plant-based arena, MATR Foods shuns the use of isolates and additives, opting instead for whole ingredients that are purely enhanced through fermentation.
Future Expansion Plans
With the newly acquired €40 million, MATR Foods aims to dramatically scale up its production from 30 to 40 tonnes annually to an ambitious target of 4,000 tonnes by 2027. A new state-of-the-art factory in Jutland is set to play a pivotal role in this expansion, anticipated to be operational by early 2027 and expected to create around 60 local jobs. This facility will not only bolster production capacity but also facilitate MATR Foods’ international growth, particularly focusing on markets in Germany and Switzerland. As the company gears up for this next phase, it remains dedicated to its mission of transforming plant-based eating into a mainstream choice, thereby contributing to a healthier planet and population.
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