This post is also available in: Danish
In just a few years, MATR Foods has emerged as one of the most promising players in the Danish plant-based food sector. Now the startup has raised "the largest foodtech investment in Denmark this year," to continue its growth journey.
The Danish producer of organic plant-based meat alternatives has just closed a EUR 40 million financing round - equivalent to almost DKK 300 million. Half comes as equity from Novo Holdings and EIFO, while the rest is loans from the European Investment Bank.
The money will be used to establish a new production facility in Ansager near Varde, which will increase the company's capacity from 30 tons to 4,000 tons annually. This will enable MATR to meet increasing demand in the Danish, German and Swiss markets.
"We are extremely pleased with the great support from leading investors and financing partners such as Novo Holdings, EIFO and EIB. They make it possible for us to finally scale up production. We are very much looking forward to meeting the demand from the many customers and chefs who have supported and looked forward to a wider distribution of MATR's products," says Randi Wahlsten, Co-founder and CEO of MATR Foods.
Danish technology meets international capital
The production in Ansager is expected to be operational in early 2027 and will create around 60 new local jobs. According to the investors, MATR is an example of how Danish food innovation can combine sustainability, gastronomy and scalable technology.
"As the largest foodtech investment of the year in Denmark, this funding reflects not only confidence in MATR's award-winning mushroom fermented products, but also the recognition that MATR meets consumer needs with products that are good for human health, the climate and the environment," says Thomas Grotkjær, Partner in Planetary Health Investments at Novo Holdings.
EIFO is particularly excited about the potential of the green transition.
"MATR's unique technology enables the production of plant-based meat alternatives with a remarkably low carbon footprint and high culinary quality at a competitive price. The investment strengthens Denmark's position in the development of sustainable food products with great export potential," says Lasse Köhler, Investment Manager in EIFO's Green Transition Team.
From Nordhavn to the global market
Founded in Copenhagen in 2021, MATR combines microbiology and gastronomy to develop new plant-based protein sources. The technology behind it is based on fungal fermentation of local organic raw materials such as oats, split peas, lupins, beets and potatoes.
The company's signature product, MATR Fungi Mince, has a carbon footprint of just 1.5 kg CO₂e per kilogram - 94 percent lower than beef - and has been adopted by Gasoline Grill, Sticks'n'Sushi, Mother Pizza, Meyers Kantiner and Aarstiderne, among others.
With the new facility in Ansager, the technology and production will now be scaled to export markets.
"It's really overwhelming to experience so much support and see the high demand for our organic, pure plant products that bring gastronomic joy," says Randi Wahlsten.