London-based foodtech startup Adamo Foods, which develops sustainable alternatives to whole-cut meats, has secured £2 million in a seed funding round to further develop its products and prepare for commercialization.
- Founded in 2020 by Pierre Dupuis, Adamo Foods is dedicated to creating healthy, and sustainable alternatives to whole-cut meats. The company develos Adamo's mycelium steak, an ultra-realistic beef alternative made from fungi. This product seeks to revolutionize the whole-cut meat market with its clean label, high-protein profile, and lower environmental impact, as the startup claims.
- The startup uses liquid-state fermentation to efficiently scale production. This process creates mycelium biomass with advanced textural properties by optimizing fermentation conditions. The resulting dense, long hyphae mimic muscle tissue, enabling the production of whole-cut meat alternatives without artificial binders, using only five all-natural ingredients.
- In 2023, Adamo Foods raised £1.5 million to advance its groundbreaking steak alternative to the market. Additionally, the company won two major grants from Innovate UK through the ‘Better Food for All’ and ‘Novel Low Emission Food Production Systems’ competitions.
Details of the deal
- The investment came from UK Innovation & Science Seed Fund, a venture capital firm based in London, that manages £110m in assets, along with Los Angeles VC Joyful VC, Trint-based investment management firm Beeches Group, London-based VC SFC Capital, Oslo-based Katapult, Harpenden-based Shake Climate Change, Rothamsted Research, and Innovate UK.
- The seed funding will enable Adamo Foods to expand its team with senior food industry experts, increase production to pilot scale levels, and develop new products, including a chicken breast alternative.
