The Spanish startup Cocuus has raised 2,5 million euros in its Pre Series A funding round for its innovative process for producing plant or cell-based animal protein food analogs. The company achieved this round after completing Eatable Adventures’ acceleration program, one of the top three global accelerators for food tech startups.
The round was led by Big Idea Ventures, the global alternative protein fund, the U.S. multinational Cargill Ventures, the Spanish accelerator Eatable Adventures and Tech Transfer UPV. With a capital injection of this size, the startup can scale its business model and expand into other international markets, enabling them to utilize their disruptive 3D bioprinting and robotics technologies to create more sustainable and nutritious food products.
Patxi Larumbe, CEO and founder of Cocuus states “We are very proud to have attracted the interest of international investors with this round of financing. Thanks to this capital injection we will be able to bring our technology within reach of corporations that want to print proteins on an industrial scale”. In addition, the Founder and Managing General Partner of Big Idea Ventures, Andrew D Ive, also highlights “At Big Idea Ventures, we invest in technology which impacts the alternative protein industry’s entire value chain. Cocuus’ technology addresses a major pain point of structured plant- and cell-based meat production methods: scalability. We are thrilled to support this innovative team and we look forward to seeing their scalable food technology making an impact across the world.”
On the other hand, José Luis Cabañero, CEO and founder of Eatable Adventures notes, “The Spanish foodtech startups’ ecosystem is consolidating very quickly, attracting major investors and international corporations. Through Eatable Adventures, we offer our services to startups and corporations around the globe to accelerate the process of transformation and innovation in the food value chain”.
As Cabañero points out, this current environmental and world population scenario calls for a rethinking of production methods to achieve a much more sustainable and efficient food system. According to FAO data, in 2050, in order to feed a population of 9.1 billion, food production will have to increase by 70% and meat production by more than 200 million tons.
Cocuus, along with MOA Foodtech, Proppos, H2hydroponics, and Innomy have been selected as finalists for the first edition of Spain Foodtech, the acceleration program of Eatable Adventures supported by the National Center for Technology and Food Safety (CNTA) and ICEX Spain Export and Investment.
Cocuus has been awarded by the international Quality Innovation Award (QIA) in the category of Innovation in Microenterprises and Startups, after winning the 2021 national award.