French plant-based pork and deli brand La Vie has secured €25 million in a new funding round, taking the total amount it has raised over the past three years to €50 million.
The round saw participation from historical shareholders and new specialised investors such as Zintinus and Sparkfood. A crowdequity campaign with over 3,000 investors, claimed to be France’s largest, also contributed to the €25 million total. La Vie will use the funding to improve its existing plant-based deli products and develop new ones.
The funding round was successful despite the current economic situation, which has seen food tech investments fall significantly. While many plant-based companies have struggled in this environment, La Vie continues to thrive; the startup has reported revenues of €19 million so far in 2024, with UK retail growth of +149% over the past 12 months. Since its launch in 2021, La Vie has achieved an average annual growth rate of 131% per year, and now boasts over 8,200 retail and restaurant partners across Europe.
“Breaking the barriers of plant-based food”
With the new funding, La Vie says it is embarking on an “ambitious new phase of development”. The company intends to accelerate its distribution and accessibility in France and the UK, while investing heavily in innovation to launch more products that will increase the adoption of plant-based foods. La Vie is also investing in awareness and sampling campaigns, including its first TV ad.
So far in 2024, the company’s successes include launching its plant-based ham at major UK supermarket chain Tesco and introducing a range of plant-based club sandwiches in France. Additionally, Arnaud Bachelier, former GM and CFO of MOM Group, has recently been appointed as Chairman of the Board.
“This new round of fundraising is more than just financial support; it is a recognition of our ability to break the barriers of plant-based foods and disrupt the food codes of tomorrow,” said Nicolas Schweitzer, CEO and co-founder of La Vie. “With the backing of our investors, we will continue our mission and keep innovating, without compromising on taste. At La Vie, we’ve always focused on pleasure, and today, we are ready to take another step forward by strengthening our presence in our current markets and accelerating the expansion of our range.”
