Kern Tec Raises €12M to Scale Up Alt Dairy Products Made From Upcycled Fruit Pits
Austrian company Kern Tec, which uses upcycled fruit pits to produce sustainable plant-based foods, has raised €12 million in funding. Claimed to be the largest ever Series A raise for an Austrian food tech company, the capital will allow Kern Tec to further scale up the production and commercialisation of its plant-based milk alternatives and confectionery. The round was led by Telos Impact, with participation from the PeakBridge Growth 2 fund and the European Innovation Council (EIC) Fund. Kern Tec’s products are made by extracting oils from the seeds within upcycled apricot, plum, and cherry pits, of which 500,000 metric tonnes are currently sent to landfill each year. These oils can then be formed into a base compound for plant-based alternatives to dairy products such …