Sales of plant-based alternatives such as dairy and meat are as follows global market boom, and Perfeggt wants to do the same for eggs.
The Berlin-based foodtech company is set to launch its chicken-less egg product in the first quarter of 2022 in Germany, Switzerland and Austria. Today, the company announced that it raised $2.8 million in its first funding round to aid with an initial launch and then further expansion in Europe later in 2022.
Backers in the round include EVIG Group, Stray Dog Capital, E2JDJ, Tate Ventures, Good Seed Ventures, Sustainable Food Ventures and Sheo Capital.
Perfeggt CEO Tanja Bogumil co-founded the company, which is part of Lovely Day Foods GmbH, earlier this year by Gary Linn, EVIG’s founder and CEO, and Bernd Baker, a longtime R&D executive for the German Rügenwalder Mühle. Was the chief till the time, was with. Vegetarian and vegetarian meat maker.
“I really believe we deserve better food,” Bogumil told Nerdshala. “My mother’s family comes from an agricultural background in small-scale farming, so I have always been mindful of where the food we eat comes from. I turned vegetarian when I was 12, when my uncle brought me to a slaughterhouse to show me that the sausages I ate weren’t made correctly. I didn’t fully understand what was happening there, but it didn’t feel right or human.”
Unlike dairy, where the consistency is already there, he believes the egg is still largely unprocessed. Sure, there are companies making similar plant-based alternatives, like Simply Ageless and Just Eat, which raised $200 million earlier this summer, but around the world, Over 1.3 trillion eggs are produced annually, which means there is room to grow, and the applications are versatile, Bogumil said.
Perfeggt’s first plant-based egg product is a protein-rich liquid substitute made from fava beans. It can be prepared with pan fried eggs or as an omelet. The company will initially launch its product with food service organizations.
As with all food, taste is king, and with this product, the co-founders worked to create a similar mouth feel, sensory, taste, and texture — all ingredients that Bogumil says should prompt people to switch to the plant-based counterpart. are necessary for.
“It’s something we spent time figuring out,” she said. “Our product is built around the fava bean, which is very well suited to mimic the functionality needed for these applications.”
To do this, Perfeggt’s R&D site in Emsland, Germany, works closely with Wageningen University & Research, known for its life science research, to test plant-based protein sources and their combinations Come closest to the nutritional and functional properties of animal products.
The new funding enables the company to build its own team at its headquarters and R&D facility. The company is currently hiring for Food Scientist, Marketing and R&D.
In the meantime, Bogumil believes that more companies coming into the egg alternative space will help Perfagate’s mission to get people to move to plant-based foods.
“It’s not a one-winners-takes-all market,” she said. “Never in history have we seen alternative proteins so close to the mainstream market. Clearly this is reflected in capital markets, not only for the growth of niche markets, but for the future of food as well.
“We are incredibly impressed by the team’s rapid technological advances in developing next-generation alternative proteins and finding solutions that improve human, planetary and animal health,” Stephanie Dorsey, founding partner of E2JDJ, said in a written statement. “The egg market is a huge opportunity and this is just the beginning.”