German food technology company Project Eaden has secured €15m ($15.6m) in a Series A funding round to expand its plant-based meat alternatives.
The investment round was spearheaded by Planet A and REWE Group, with additional backing from DeepTech & Climate Fonds, Happiness Capital, the AgriFoodTech Venture Alliance and returning investors Creandum and FoodLabs.
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Founded in 2022 in Berlin by David Schmelzeisen, Hubertus Bessau, and Jan Wilmking, Project Eaden focuses on creating “ultra-realistic” plant-based meat alternatives.
The company uses proprietary fibre spinning technology, inspired by the textile industry, to develop whole cuts and deli products.
Planet A general partner Christoph Gras said: “Research suggests that plant-based products could replace 11–22% of global meat consumption by 2035 – but only if improvements are made in taste and texture.”
Wilmking said: “We are here to make the switch away from animal meat consumption a no-brainer. Our products deliver on taste, texture and nutrition.”
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By GlobalDataThe new investment brings Project Eaden’s total funding to €27m.
In early 2022, the company raised €10m in seed round led by Creandum, with participation from Magnetic, FoodLabs, Mudcake, and Shio Capital.
The company plans to utilise the new funds to support its pan-European retail launch, scale up production capacity and expand its product portfolio.
“Our proprietary tech is versatile across meat types, cheap and highly scalable,” Schmelzeisen added.
Project Eaden said it will continue to advance plant-based whole cut meat alternatives through research and development activities.
The company is also increasing its workforce by making additions across operations, engineering, marketing and sales teams.
Project Eaden aims to launch in multiple European markets in 2025, starting with Germany.
Its “ultra-realistic” ham products will debut in thousands of REWE supermarkets across Germany in the first half of the year.
Besides claiming that Project Eaden’s products are “healthier than animal meats”, it said that its products are produced “at a fraction of the environmental cost of animal meat”.
