Investments & Acquisitions

Bärta Seeks SEK 3M for Alt Meats Made From Fermented Swedish Peas Following 26% YOY Growth

Sweden’s Bärta is aiming to raise up to SEK 3 million (around $277,000) in an ongoing funding round conducted via fundraising platform Pepins.

Several investors — including Kale United, Aggregate Media, and Michel Bracké — have already participated. It comes after unit sales of the brand’s meat alternatives, which are made from organic fermented Swedish peas, increased by 26% year-on-year in the first quarter of 2023.

Bärta describes its plant-based meats as “premium vegan products” with a high nutritional value, a rich flavour, and a very low environmental impact. Currently, five frozen and three chilled products are available, including fish-style fillets, marinated chunks, and burgers. Most of the products have a very simple ingredient list, featuring peas, fermentation cultures, rapeseed oil, and sea salt.

The meat alternatives are already available at retailers across Sweden, including COOP, ICA, City Gross, Hemköp, and Willy’s. Food service outlets can order the products through major wholesalers such as Martin & Servera, Svensk Cater, and Grönsakshallen Sorunda.

© Bärta

Investing in local crops

Sweden is increasingly working to make more use of homegrown ingredients, aiming to meet the demand for plant-based products without relying on imported soy. In 2021, the country’s government invested €2.5 million into local agricultural projects to make the plant-based sector more competitive and sustainable.

Last year, agricultural cooperative Lantmännen — owned by 19,000 Swedish farmers — invested over SEK 1 billion ($91 million) in a new large-scale production facility for pea protein in the country.

“This is another important investment in the Swedish food sector and a milestone in our strategy to take responsibility from field to fork. It’s good for our members, active Swedish farmers, for food producers – and for consumers, who will benefit from having more Swedish and sustainably produced products to choose from,” said Magnus Kagevik, Group President and CEO of Lantmännen.

The funding round will run until July 14.

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