Heura Secures €20 Million from EIB to Propel Plant-Based Innovations
Barcelona-based Heura has announced a significant funding boost of €20 million ($22.2 million) from the European Investment Bank (EIB). This investment is aimed at enhancing its plant-based meat and dairy technology platform, with ambitious plans to achieve profitability by Q4 of this year.
A Leader in Alternative Meat Products
Founded in 2017 by Bernat Añaños and Marc Coloma, Heura has successfully raised over $76 million to date. Initially gaining prominence through its alternative meat offerings, the company has since developed innovative texturizing technology applicable to various food products, including cold cuts, cheese, and pasta. This technology promises enhanced protein content, reduced saturated fat, and fewer additives in its products.
Innovative Technology for the Future
Heura’s “process-controlled microstructure design” technology, which encompasses heating, cooling, and mixing, stands out due to its lower energy consumption compared to traditional extrusion methods. The company claims that this technology does not require costly bespoke equipment and allows for higher throughput. Heura is actively exploring partnerships and licensing agreements to maximize its impact within the sector.
‘Our Priority for 2025 is Achieving Profitability’
Cofounder Bernat Añaños shared insights with AgFunderNews, stating, “Sales remained stable in 2024 at €38 million ($42 million), reflecting our strategic shift towards prioritizing profitability. Our focused efforts in Southern Europe—specifically Italy, France, and Portugal—resulted in impressive growth of 34.5%, while maintaining stability in Spain. We have intentionally scaled back in Northern Europe, engaging only with key partners like Waitrose in the UK, Jumbo in the Netherlands, and Billa in Austria.”
Añaños emphasized the importance of financial independence and resilience over the past two years, detailing various efficiency strategies aimed at margin improvement and country rationalization. “This comprehensive approach instills confidence in our goal to achieve profitability by Q4,” he said.
Product Innovations on the Horizon
The funding from the EIB will primarily facilitate research and development efforts. “We aim to enhance our current offerings while accelerating category diversification,” stated Añaños. “Although profitability will take precedence over growth, we are set to launch five innovative products this year, including Tex Mex chunks, collaboration fillets with French expert Swap Food, and a fine herb burger, laying the groundwork for sustainable growth in 2026.”
Partnerships and Market Expansion
Regarding the progress of its “process-controlled microstructure design” technology, Añaños mentioned that while progress has been made, the complexities surrounding patents and technological development necessitate a long-term outlook. “We are actively engaging with potential partners, as collaboration is essential for driving transformation within the food system,” he affirmed.
Heura is making strides in the market, with seven of its products ranking among the top ten best-sellers in Spain. The company has also witnessed a 60% growth in its cold cuts segment and is expanding its foodservice presence through partnerships with notable names such as Royal Caribbean, Vueling, and Rodilla.
