Parma, Italy-based Dreamfarm, a food tech startup that produces plant-based alternatives to cheese, announced on Monday that it has raised €5M in funding.
The financing round was backed by two accomplished entrepreneurs — Giampaolo Cagnin, a serial entrepreneur who founded Italiana Ingredienti, Campus, and Hi-Food, and Francesco Mutti, the owner, and CEO of the Mutti Group.
“We invested in the project because we believe there is a real opportunity to revolutionise the sector, thanks to significant technological innovations and an engaging and highly recognizable branding on the shelf,” says Cagnin.
The Italian company will use the funds to establish a production facility in Sala Baganza (PR), equipped with specific machinery to optimise a unique and patented production process.
Dreamfarm: Perfecting vegan mozzarella
Founded in 2021 by Maddalena Zanoni and Mattia Sandei, Dreamfarm is on a mission to create 100 per cent plant-based cheese alternatives that are delicious, healthy, and clean-label.
After 2 years of research and development and a patent-pending process, Dreamfarm successfully launched its first products to the market in May 2023: two plant-based alternatives to mozzarella and spreadable cheese, both with a Nutriscore A rating, created through the fermentation of almond paste using proprietary selected cultures.
Dreamfarm is currently focusing on expanding its distribution channels in Italy and abroad while simultaneously diversifying its product portfolio.
“Dreamfarm’s alternative to mozzarella is an innovative product with less than 1 per cent saturated fat, making it appealing to consumers increasingly conscious of sustainability and nutritional profiles, but unwilling to compromise on the goodness of a typically Italian product,” says Menozzi.
“A dream came true to create a venture like Dreamfarm right here and have entrepreneurs of this caliber as part of our team. The sector is experiencing significant growth, and we are confident that we can make a global impact with the type of products we have and will continue to develop.”