Picture Credit: Plant-based cheese from Vacka
Big Idea Ventures, the global leader in early-stage alternative protein and food technology is pleased to announce its follow on investment in Vacka.
The Barcelona-based food tech startup, has closed an investment round of 1.1 million euros supported by Big Idea Ventures and Bolsa Social, Capital V, Leanox Venture Capital, private investors in the plant-based sector, including Álvaro Martínez Gallardo (founder and CEO of Birdman), and several business angels, including Rat Gasol.
Vacka is part of BIV’s New Protein Fund I portfolio and joined the Big Idea Ventures accelerator program’s 5th cohort run out of Paris last year.
“The one thing that has always impressed me about Vacka is that they not only have a great tasting product, but also a team of highly motivated and passionate creators working towards building a more sustainable food ecosystem! It’s been a pleasure working with them and supporting their growth. Onwards and upwards from here,” said Andrew D. Ive, Founder at Big Idea Ventures.
This raise will enable Väcka to take a great leap forward in the development of new technologies aimed at improving their product line, as well as to expand commercially and internationally.
“The amount raised will enable us this year to reach the 3,000 points of sale, address international expansion and grow organically,” says Luz Sanz, co-founder and CEO of Väcka.
After closing this past year with a turnover of 285,000 euros and an increase in sales of close to 300%, Väcka’s forecast for 2023 is to reach a turnover of 1.5 million euros, attributed to the increase in points of sale in Spain and France, and the implementation of international expansion plans.
The plant-based foodtech company opened the year by launching the world’s only two plant-based cheeses made from olive oil and fermented melon seed milk, Mözza and Pumpkin Chxddar.
Last December, the company filed a patent application for this innovative process with the United States Patent and Trademark Office (USPTO).
About Väcka: Luz Sanz and Maxime Boniface created Väcka in 2021, in Barcelona, and did so as part of the Nest City Lab, an urban sustainability laboratory located in the innovative ecosystem of the 22@district. With a team of 10 professionals, combining scientific, technological and gastronomic expertise, Väcka stands out for the group’s work dedicated to RD, researching on the functionality of different sources of protein and vegetable fat with the aim of advancing in the search for new nutritional ingredients that respond to the needs posed by the market. Väcka has quickly become a world leader in the vegetable cheese sector. Its products are present in more than 400 points of sale, such as the Ametller, Veritas, Molsa and Herbolario Navarro chains; in various local establishments; and in a hundred pizzerias, such as Grosso Napolitano, Pizza Market, Del Poble and Can Pizza, among others.
About Big Idea Ventures: Big Idea Ventures is the world’s most active investor in FoodTech investing in the best food technology and agritech companies globally. The company has contributed to the development of the growing alternative protein industry since its inception and has become a global leader in food innovation. BIV is backed by a strong network of strategic partners including AAK, Avril, Bühler, Givaudan, Temasek Holdings, and Tyson Foods, and is partnering with governments around the world working on food security and new food ecosystems. The firm has offices in New York, Paris and Singapore and has invested in more than 100 companies across 25 countries. For more information, visit bigideaventures.com
Media contact: email@example.com