Perfeggt announces it has closed its first financing round at more than 2.8 million USD (2.5 million EUR) for its chickenless egg product. Its first iteration consists of a “complex, plant-based system” including the increasingly popular fava bean, that can be prepared scrambled or as an omelette.
“We expect Perfeggt to quickly gain significant market share and reach high, sustainable growth with continuous product innovation in the coming years.”
Prominent and prolific investors in the round included EVIG Group, Stray Dog Capital, E²JDJ, Tet Ventures, Good Seed Ventures, Sustainable Food Ventures and Shio Capital.
The Berlin-based company’s debut product will initially launch early next year in Germany, Switzerland and Austria markets with further European markets to follow. Tanja Bogumil, CEO of Perfeggt, states: “With Perfeggt, we are offering a real alternative for one of the most popular animal proteins in the world. We’re more than convinced that it’s about time to rethink the egg as part of our daily diet with plant-based proteins and data-driven technology.”
Bernd Becker, Perfeggt’s Chief Product Officer, headed R&D for 25 years for Rügenwalder Mühl, the market leader in vegetarian and vegan meat alternatives in Germany. Becker states: “We are aware that taste and texture are key. That is why we are laser-focused on matching the right plant-based proteins and lipids that allow us to replicate the exceedingly complex multifunctional and versatile characteristics of an egg and its indistinguishable taste.”
Perfeggt is supported by company builder EVIG, specialising in building science-driven startups disrupting the food sector. EVIG’s founder and CEO Gary Lin is also among Perfeggt’s co-founders. Lin stated: “We believe that with scientific excellence and innovative technology, animal-based products can be easily eliminated from the menu, and Perfeggt is the result of exactly that,” Lin said.
He added, “We expect Perfeggt to quickly gain significant market share and reach high, sustainable growth with continuous product innovation in the coming years.”
Johnny Ream, Partner at Stray Dog Capital, explained: “We see the data-driven approach to product and R&D as truly differentiated. It sets up a methodical process for continued product development over a long term horizon, and brings the capability to produce major breakthroughs in the alternative egg format. We’re incredibly excited to partner with the Perfeggt team on this journey.”
Stephanie Dorsey, Founding Partner at E2JDJ, commented: “We are delighted to support Perfeggt. We are incredibly impressed by the team’s rapid technological progress in developing next-generation alternative proteins and finding solutions that improve human, planetary and animal health. The egg market is a massive opportunity and this is just the beginning.”