Shaping the Future of Food: Leading European Food Tech Companies

European food tech companies are transforming the future of food, from developing sustainable meat alternatives and innovative packaging to redefining the way we shop and prepare meals.Europe has become a thriving center for food tech innovation, where companies are redefining how we produce, consume, and perceive food. By harnessing advanced technologies like plant-based ingredients, fermentation, artificial intelligence, and sustainable production methods, these trailblazers are tackling critical challenges such as sustainability, food security, and public health.

This surge in innovation is not only driving new business opportunities but is also delivering healthier, more sustainable, and accessible food solutions to consumers worldwide.Here are the top 10 food tech companies that secured the highest funding in the first three quarters of 2024.Mosa Meat is at the forefront of food technology, offering a cleaner and more humane approach to producing real beef through cultured meat technology. By cultivating muscle and fat tissue from a small sample of cow cells, the company eliminates the need for traditional livestock farming.

Mosa Meat’s mission is to transform the global food system by rethinking meat production, ensuring high-quality beef is accessible worldwide without harming animals or the environment. In April, the company raised €40 million to accelerate the introduction of cultivated beef to consumers.Heura Foods is a mission-driven company dedicated to transforming the food system by creating 100% plant-based meat and fish alternatives. Drawing inspiration from Mediterranean heritage, their products incorporate premium ingredients, such as olive oil, to deliver sustainable, healthy, and flavorful options.

Focused on sustainability and nutrition, Heura Foods offers plant-based chicken, beef, and pork products designed to replicate the taste and texture of traditional meat. In February, the company secured €40 million in funding to drive profitability, fuel innovation, and expand its tech patent portfolio, addressing global consumer needs.THIS is a UK-based company specializing in plant-based meat alternatives that closely mimic the taste and texture of traditional meat. Designed for meat lovers exploring plant-based options, the company's mission is to "force animals into retirement" by promoting a shift away from animal farming.

Since its inception, THIS has reportedly saved over a million animals. Their product lineup includes plant-based chicken and bacon alternatives, widely available in supermarkets and food service outlets across the UK.Recently, THIS raised €23.6 million to support its growth in the UK by launching new health-focused product ranges and enhancing profitability within its core offerings.MATR Foods is leading the way in plant-based innovation through traditional fungi fermentation.

By blending Nordic organic vegetables, legumes, and grains—such as oats, split peas, lupins, beetroot, and potatoes—with natural fungi spores, MATR creates healthy, climate-friendly ingredients characterized by rich umami flavor and a tender, juicy texture.The company's mission is to make planet-friendly eating accessible, supporting local farmers while reducing the environmental footprint of food production.In its latest funding round, MATR secured €20 million from the European Investment Bank (EIB) to expand the production of its plant-based meat alternatives.

Vegetarian Express is a prominent UK-based supplier specializing in plant-based and vegetarian ingredients tailored for the foodservice sector. Their extensive product range includes meat alternatives, dairy substitutes, grains, pulses, herbs, and spices, catering to chefs and caterers seeking innovative, sustainable menu options.Earlier this year, the company secured £15 million to expand operations into Ireland, enhance its services, support its growing customer base, and further develop its digital offerings.

NOVAMEAT is a cutting-edge food technology startup revolutionizing plant-based meat alternatives using advanced 3D printing technology. The company focuses on creating sustainable substitutes that replicate the taste, texture, and appearance of whole muscle cuts, such as beef steaks.By incorporating plant-based ingredients like pea protein and beetroot juice, NOVAMEAT mimics the fibrous structure of animal meat, enabling production rates of up to 500 kilograms per hour. This innovation supports a more sustainable and efficient food production system.

In September, NOVAMEAT raised €17.4 million in an oversubscribed Series A funding round to fuel growth and commercialize its plant-based meat products.ProteinDistillery is a forward-thinking food technology company focused on revolutionizing the vegan protein market. The company specializes in developing customizable vegan proteins that can fully replace animal proteins in a wide range of food products, filling a significant gap where truly functional vegan protein alternatives are often lacking.

Their innovative approach allows for the creation of healthy protein ingredients for meat alternatives, offering consumers sustainable, animal-free food options. ProteinDistillery is committed to leading the second wave of alternative proteins, aiming to elevate plant-based options to match the taste, texture, and nutritional value of their animal counterparts.In March, the company raised €15 million to further its mission.

Planet A Foods is a company pioneering sustainable food ingredients, most notably through the production of the world’s first 100% cocoa-free chocolate using proprietary fermentation technology. This groundbreaking approach recreates the flavors and fats of traditional chocolate without relying on cocoa, helping to reduce carbon emissions and deforestation linked to cocoa production.The company’s mission is to create food products independent of constrained land and labor resources, with a focus on producing locally and minimizing environmental impact.

By utilizing fermentation, Planet A Foods offers an eco-friendly alternative to conventional chocolate, paving the way for a more sustainable food system.In February, the company secured $15.4 million in funding to scale up production of its eco-friendly cocoa alternatives.GeoSalmo is a company specializing in land-based salmon farming, using Iceland’s rich natural resources, including geothermal and hydroelectric energy, to produce high-quality salmon sustainably.

The company is building a 24,000 metric ton hybrid flow-through land-based salmon farm, which integrates an on-site smolt facility, grow-out, and processing plant, giving them complete control over the production process.With a strong focus on sustainability, GeoSalmo's operations rely on renewable geothermal and hydroelectric energy. In January, the company secured €13.4 million to further its land-based salmon farming venture in Iceland.Jow is a company designed to simplify meal planning and grocery shopping by offering personalized recipes and automated shopping lists. By entering household details, dietary preferences, and kitchen equipment, users receive tailored meal suggestions.

The platform automatically adds all the necessary ingredients to a shopping cart, available for home delivery or pick-up from a drive-through.Jow is focused on tackling global challenges like food waste and environmental impact, providing a convenient and eco-friendly solution for consumers looking to streamline their grocery shopping and meal planning.Earlier this year, the company raised $13 million to expand its operations into the US.