London-based food-tech startup Adamo Foods recently announced that it has raised £2 million in a seed funding round co-led by the UK Innovation Science and Seed Fund (UKI2S) and managed by Future Planet Capital and Joyful Ventures.
The funding will help the company accelerate its mission to bring to market the first ultra-realistic mushroom alternative to beef steak.
Hassan Mahmudul, Investment Manager at UKI2S, says: “Adamo’s whole meat product has the potential to be a real market differentiator from current plant-based alternatives. I am excited to see this product on the market.”
The capital will not only be used to increase production, but also to expand Adamo’s team to include experienced experts from the food industry and to expand the product range to include alternatives to steak and chicken breast.
Pierre Dupuis, Founder and CEO of Adamo Foods, comments: “This is a pivotal moment for Adamo. We are delighted to have such experienced investors with extensive foodtech expertise on board. This financing will enable us to scale our production to pilot scale and bring our clean label products closer to consumers.”
Adamo Foods: Ultra-realistic alternatives to whole pieces of meat
Founded by Pierre Dupuis, Adamo Foods is a food technology company developing the most innovative alternatives to whole cuts of meat.
Using its proprietary fermentation process, the British company produces long, densely packed mycelium fibers that replicate the muscle structure of whole meat as closely as possible.
The result is a tender, aromatic mushroom steak made from just five natural ingredients, free from herbal notes and artificial binding agents such as methylcellulose.
The company claims its steaks are nutritionally superior, high in protein and fiber, contain no cholesterol, and offer an impressive 93 percent reduction in greenhouse gas emissions compared to conventional beef.
The company is preparing to launch its first product, which will initially be carried out in a limited pilot project in the UK and then rolled out more widely across Europe.
