Heura closes Series B round, forming plant-based alliance

© Heura

Facts & Figures

Heura Announces €38.3M Turnover and 63% Growth in International Sales

Spanish plant-based food startup Heura has announced that its turnover reached €38.3 million in 2023, while international sales rose by a huge 63%. In France, growth was particularly significant at 88%. A partnership with supermarket chain Waitrose allowed Heura to increase its presence in the UK, and the brand saw double-digit growth in all the other European markets where it has a presence. The announcement comes after Heura raised €40 million in Series B funding, in what was claimed to be the largest plant-based funding round of 2023. Among the investors was Upfield, which will work with Heura on a food tech collaboration. All the investors in the round will also join a board that aims to accelerate the transition to a sustainable food system. …

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A package of La Vie's new plant-based ham

Image courtesy of La Vie

Politics & Law

Plant-Based Companies Respond to French Decree Banning Meat-Like Words on Veggie Packaging

Yesterday 27 February, the French government issued a decree prohibiting the use of words such as “steak, “ham”, “cutlet”, or “escalope” on the labels of meat-free foods. The ruling comes in response to allegations from the meat industry that such terms are confusing for consumers. Similarly, last December, the Republican (Les Républicains) party of France introduced a bill to prohibit the production and marketing of cultivated meat in the tradition-focused country. The measure seriously compromises the sales prospects of home-grown French innovations in the face of major foreign companies not affected by this new legislation, argues French vegan whole-cut leader Umiami. Despite the French government’s support for the industrialisation of the plant-based sector, including the Umiami startup factory, these regulations seriously hamper their economic development …

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Marc Coloma, CEO and co-founder of Heura Foods at the Heura Lab

Marc Coloma, CEO and co-founder of Heura Foods at the Heura Lab, image supplied

Company News

Following €40M Investment, Upfield & Heura Reveal Plans to Fast-Track Innovation in Plant-Based Foods  

Last week, Spain’s Heura announced it had secured €40 million in what it claimed to be the largest plant-based financing round of 2023. The investors in the Series B round are to form a strategic coalition aiming to fast-track innovation in plant-based foods. Heura and Upfield today explain what this will entail. The work between Heura and Upfield aims to rapidly accelerate the protein transition towards a sustainable food system. Aside from the animal suffering and environmental damage caused by animal agriculture, one of the problems in our food system is its inefficiencies: plant-based crops feed more people while occupying less land. Today, plant-based food occupies only 23% of global agricultural land, yet provides 82% of our calories[1]. Data shows that cutting meat and dairy …

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Heura closes Series B round, forming plant-based alliance

© Heura

Investments & Acquisitions

Heura Raises €40M, Forming Strategic Plant-Based Alliance With Upfield & More

Spanish plant meat leader Heura has raised €40 million in Series B funding, in what it claims is the largest plant-based funding round of 2023. Heura states the funding will drive the company to profitability and reinforce its position as a frontrunner in the industry. The brand is already a leader in the Spanish market and continues to expand across markets such as the UK, France, and Italy. The round saw participation from leading plant-based company Upfield, venture capital firm Unovis Asset Management, food tech fund the European Circular Bioeconomy Fund, and impact investor Newtree Impact. According to Heura, these investors will form a strategic coalition, creating “one of the biggest plant-based alliances”. The companies will join a board that aims to increase Heura’s impact …

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Plant-based ham on a plate

© Heura

Products & Launches

Heura Launches “World’s First” Additive-Free York-Style Plant-Based Ham

Spanish alt meat brand Heura has launched a new product that it describes as a world first — additive-free York-style plant-based ham slices. The product has 64% protein density while being low in total and saturated fat. Through the launch, Heura hopes to attract consumers who are turning away from processed deli meats due to their link to chronic diseases such as bowel cancer. Spanish people are currently said to consume eight times more processed meat than recommended by the World Health Organization. With their high nutrient density and lack of additives, the new slices remove two of the most common consumer objections to plant-based meats — that they are too processed and not nutritionally equivalent to animal meat. “In the context of a health …

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Heura Fish in wrap

Image courtesy of Heura

Agriculture / Agribusiness

Plant-Based Seafood Labels Accused of Deceiving Consumers by Spain’s Seafood Industry

In yet another war against plant-based food labelling, Spain’s seafood industry has joined forces to denounce “fraud in the labelling and presentation of plant-based seafood products,” arguing that such practices confuse consumers. The coalition, also joined by the association of wholesalers, importers, exporters, and processors of seafood products Conxemar, is calling on the Ministry of Consumer Affairs to review and immediately withdraw plant-based seafood products that use fish names on their labels seeking to “deceive consumers on the nutritional value of the products,” as reported by the media.  In addition, they argue that the products do not comply with “several” European and national regulations, including unfair competition practices, advertising of food products, and food safety and nutrition. A recent USDA Spain Seafood Report 2023 says …

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Marc Coloma and Bernat Ananos, Heura founders

© Heura

Company News

Heura Raises Over €2.6M in Crowdfunding in Just 48 Hours

Heura, the leading Spanish company in plant-based meat products, has started its third crowdfunding round and has raised more than 2.6 million euros in 48 hours. Since its launch on May 5, the company has 3,400 more investors. The objective of this crowdfunding campaign, which will be active until May 17 through the Crowdcube platform, is to lead the plant-based protein market at the European level, deploy the net positive impact plan, and drive technological innovations under a new patent. European growth The plant-based sector currently generates sales in Europe of €5.7 billion and a GFI report from this February found that alt protein companies across Europe raised nearly 24% more last year than in 2021. Spanish companies in particular attracted €42 million in funding  …

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Marc Coloma and Bernat Ananos, Heura founders

© Heura

Company News

Heura to Unlock “Unprecedented Nutritional Value” With New Patent-Pending Technology

Heura has announced the development of a new patent-pending technology that claims to make it possible to produce plant-based foods with previously unattainable nutritional values. The Spanish food tech startup says it aims to address unresolved challenges in the plant-based industry, creating a “superior sensorial experience with high value nutritional products” and no additives. The new technology — derived from Heura’s Good Rebel Tech platform, which launched last year — is also said to provide a faster and more efficient way to design and process food products. According to Heura, the proprietary technology uses a novel thermomechanical technique, with heat and mechanical energy used to shape or modify a material’s properties. It is one of numerous innovations developed by Heura’s R&D team; another is an …

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Heura lasagne Iberojet

Image courtesy Heura Foods

Tourism & Travel

Heura and Iberojet Collaborate to Bring Tutti Foods Vegan Lasagne to Onboard Menu

Heura and Iberojet, the Spanish / Portuguese charter airline, recently collaborated to add a 100% plant-based lasagne dish to its onboard menus. The vegan Bolognese lasagne, made with Heura‘s vegetable protein meat, fresh egg-free pasta sheets, cauliflower-based béchamel sauce and grated vegan cheese, has been available since January 9 on 40% of flights departing from Spain and Portugal. “Iberojet makes available to all passengers a 100% vegetable dish suitable for vegans, turning into a commodity an option which is usually offered as a premium category or special offer,” says Director of Customer Experience Juan José Salgueiro of Iberojet. This initiative has been possible thanks to the alliance between Tutti Food Group, a company specialized in the production of frozen ready meals, and Heura, the leading …

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© La Vie

Marketing & Media

10 Times Vegan Brands Took on the Food Industry With Provocative Ad Campaigns

In a week where allplants and THIS in the UK, as well as Eat Just in the US, have challenged their counterparts with disruptive ad campaigns; we take a look at ten plant-based brands that have taken on the food industry over the past 12 months, causing the public to consider their food purchasing choices through the use of thought-provoking factual information or humor. And, in one case, nudity. 1. allplants, UK This week, vegan meal delivery service allplants has announced it is “taking a stance to break the industry free from ultra-processed foods with wholefood plant power”. The company has erected billboards in the UK comparing the ingredients in an allplants dish to those in a supermarket ready meal, after conducting a survey showing …

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four heura chorizos on a plate

© Heura

Investments & Finance

Spain’s Alternative Protein Sector Stands Out Among Food Tech Investments in 2022

In 2022, Spain remained prominent among the top ten European food tech countries according to Eatable Adventures’ report, The State of Foodtech in Spain 2022. Here we take a look at some top-ranking Spanish alt food brands in terms of investments including Heura, Cocuus, Innomy, Cubiq, and Novameat. This year, the total investment figure for food tech in Spain stands at 268 million euros, an increase of 9.38% compared to the previous year, not counting the investment round achieved by Glovo (450 million euros), says the report. Series A rounds saw an increase, growing by nearly 20%, 5 points more than in 2021. According to Eatable Adventures, the emergence of the alternative protein sector stands out among significant investments rounds in 2022, with three startups …

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Domino's Spain

© Domino´s Pizza

Fast Food

Domino’s Launches New Vegan Pizzas in Spain

Domino’s Pizza has launched a new selection of vegan pizzas for the Spanish market: Varbacoa de Heura, Tony Veggeroni and Veggiña. This launch has been carried out through the campaign that addresses the late launch of vegan pizzas “A buenas horas pizzas verdes.” The campaign, in collaboration with Good Rebels, will focus on digital and outdoor media, and will publicise its new vegan recipes, thus offering this target group the possibility of consuming these products in shops and at home. The new pizzas offer classic recipes but with animal-free ingredients: Heura‘s Varbacoa pizza – made with a base of barbecue sauce, Violife cheese, Heura chicken, onion and corn. The Veggiña – with a natural tomato base, Violife cheese, mushrooms, black olives, onion and green pepper. …

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Founders Bernat-Ananos and Marc Coloma at the City of Justice in Barcelona ©Heura

Investments & Acquisitions

Heura Raises €20M, Aims to Be European Plant-Based Leader by 2027

Leading Spanish alt-meat brand Heura has raised €20 million in funding as it works to become the European plant-based leader by 2027. The raise includes the issuing of convertible notes, which will lead to equity in what is expected to be one of Europe’s largest alt protein Series B rounds next year. Investors include Unovis Asset Management, the NBA’s Ricky Rubio, footballers Sergio Busquets and Sergi Roberto, and comedian David Broncano. Heura will use the funding to expand into more European countries such as Austria, Germany, Switzerland, and the Netherlands, along with increasing its presence in existing markets like France, Italy, and the UK. Driving category growth The raise comes after Heura secured over €4 million in just 12 hours earlier this year, as part …

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Heura BREADED CHICKEN

© Heura

Products & Launches

Heura Reveals Chick’n Fillet and Long Burger

Following the success of its Chick’n Nuggets, Spanish alt meat brand Heura is adding two new products — the Chick’n Fillet and Long Burger — to its plant-based chicken range. The fillet is described as “a homemade-style breaded delight with a crunchy and extra juicy bite”, while the burger is said to be “packed with intense flavour and a hint of black pepper”. Both products have received a Nutriscore of A, containing healthy fats from olive oil and high-quality protein. Developed by Heura’s R&D team, the TechRebels, the new products are said to be suitable for a range of dishes — from pita sandwiches to katsu curry. In a blind taste test on the streets of Barcelona, feedback was extremely positive, with many describing the …

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Raging Pig Bacon

© The Raging Pig Company

Fairs & Events

Revealed: Huge List of Food Innovations to Be Showcased at PBW Expo London

The Plant Based World Expo, Europe’s only 100% plant-based event for professionals, will return to London from 30th November – 1st December. Here we reveal the extensive list of exciting innovations that will be showcased at the Olympia. The event, which will include a variety of up-and-coming businesses and well-known brands, will give retailers, food service providers, distributors, entrepreneurs, and investors the chance to examine and sample the newest goods making their imprint on the plant-based market. Plant-based meat and fish alternatives At the event, a variety of inventive meat and fish substitutes will be on display, appealing to a market of customers eager to reduce their reliance on animal products: No Meat Today will demonstrate its new range of healthy fish alternatives, including calamari …

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ProVeg NFH

ProVeg International

Marketing & Media

Case Study: How Heura Foods Harnesses the Power of Social Media

ProVeg International recently published a case study exploring how Heura Foods harnesses social media to develop its brand and boost sales. Heura is a Spanish plant-based food company that sells plant-based meat alternatives to chicken, beef, and pork. The company has almost 200,000 followers on its Spanish Instagram, with tens of thousands more across its other global accounts – demonstrating the success of its engaging approach to social media. To boost your brand’s social media engagement rates in a manner similar to Heura, ProVeg recommends the following: Use humour to connect with consumers Promote education Collaborate with influencers Overall, crafting a successful social media presence as a plant-based brand is about striking the right balance between being genuine, educational, and promotional. In the words of …

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Fairs & Events

What’s Trending in the Plant Based World?

Claire Roper, Industry Expert and Plant Based World Expo Advisor, explores the latest trends that will be on display at the show and looks ahead at the future of the plant-based sector.   The Current Landscape With more than a quarter of Brits aiming to reduce their meat intake, the plant-based food market has grown rapidly over the last five years. In fact, sales of meat and dairy-free alternatives have doubled, making plant-based one of the fastest growing categories in retail. Whilst this trend isn’t new, the pandemic undoubtedly accelerated the move towards plant-based eating. COVID-19 prompted people to re-evaluate their priorities, with many taking steps to improve their health and live more sustainably. Reducing the intake of animal products offered a simple way to …

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Heura partners with Barca Women's Football Team

© Heura/FC Barcelona

Facts & Figures

Heura Becomes Sponsor for Barça Women’s Football Team

Spanish alt-meat brand Heura has entered a three-year partnership with FC Barcelona to sponsor the Barça Women’s Football Team. The collaboration aims to “promote more sustainable and nutritious foods for athletes and fans”. Heura’s culinary, nutrition and R&D teams will work with FC Barcelona experts to maximise nutritional performance and help the public understand the benefits of plant-based diets. The partnership will begin at the Joan Gamper Cup on August 23, where the Barça women will play against Montpellier. For the first time, plant-based options such as the Heura Chicken Sandwich and Heura Sausage will be served at the stadium. Footballers and alt-meat Elsewhere in the world, other football teams have partnered with alt-meat companies. In the UK, Quorn recently launched a plant-based pie in …

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HEURA-chorizo on baguette

© Heura

Facts & Figures

Heura’s Turnover Surges by 93% YOY, Reaching €14.7 Million

Heura’s turnover almost doubled to €14.7 million in the first half of 2022, the Spanish alt-meat brand has reported. This compares to a turnover of €7.6 million over the same period last year. So far in 2022, Heura has entered over 1,500 new retail stores across France, the UK, Switzerland, Italy, and more. Additionally, the brand’s meat alternatives have launched at 3,000 new restaurants. Heura’s total reach now stands at around 18,000 points of sale. Heura also claims that its products are available in more European countries than any other independent alt-meat startup. In its home country of Spain, the brand is now present in 65% of the retail market, making it the country’s most widely distributed plant-based brand. Exponential growth Heura reported in January …

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Mercadona

Image source: abillion.com ©Mercadona

Products & Launches

Spanish Supermarket Mercadona Continues Vegan Expansion with Plant-Based Chicken Bites

Spanish supermarket chain Mercadona is continuing to increase its own-brand vegan offerings with the launch of its plant-based marinated chicken bites. Similar in style to fellow Spanish brand Heura’s alt meat products, the vegan chicken bites are part of Mercadona’s own Hacendado brand and are available now.  Containing hardly any fat or carbohydrates, but rich in vegan protein, the new product is clean label with only six ingredients: water, soya protein (24%), extra virgin olive oil, spices, natural flavoring, and salt. At only €3 per 180g, the chicken bites are priced competitively to rival Heura, the Barcelona-based plant-based producer who currently leads the Spanish alt meat scene and is present in most major supermarkets.  Mercadona, the Valencia-based supermarket with over 1,600 stores across the country, …

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