Rival Foods says it will use the funds to develop “category-winning” products, expand its operational capabilities, scale-up its technologies, and develop new formulations with next-gen protein sources.
The company expects to bring its first products to market in the second half of 2023.
Investors in this round
The round was led by PeakBridge and joined by Roquette Ventures. According to Rival Foods, both PeakBridge and Roquette Ventures were picked as strategic investors due to their domain experience in foodtech, and particularly in the scaling up of alternative protein solutions.