MATR Foods completes €40m fundraise to scale-up production and internationalise sales of its organic plant-based meat alternatives

• Financing co-led by Novo Holdings and EIFO 
• Proceeds to fund the scaling and internationalisation of MATR's unique clean label plant products 
• Includes the development of new 4,000-tonne plant, expected to be operational by 2027

COPENHAGEN, Denmark, Oct. 21, 2025 /PRNewswire/ -- MATR Foods (MATR), the leader in next generation fermented plant-based meat alternatives, today announced the successful completion of its €40m fundraise, including €20m in Series A equity and €20m in venture debt – the largest secured by a food tech company in Denmark. The fundraising was co-led by existing investor Novo Holdings and incoming investor the Export and Investment Fund of Denmark (EIFO), alongside debt from the European Investment Bank (EIB).

The proceeds of the fundraise will be used to scale the first-of-its-kind, unique and effective fermentation process at MATR Foods Ansager site (Jutland, Denmark) to produce its award-winning, clean label, fungi-fermented products. The investment will enable a significant scale-up in production, from pilot scale to 4,000 tonnes per year, to meet the demand of the juicy texture and deep umami notes that MATR customers favour. With the financing in place, the new production line is expected to be operational by early 2027, resulting in approximately 60 new jobs locally, and accommodating customers in Germany, Switzerland, and Denmark.

Randi Wahlsten, CEO, MATR, said "We are very excited to take our production to scale and internationalise the business. We are looking forward to finally being able to meet the demand of the many customers and chefs who have been unwavering in their support and enthusiasm for MATR products. It is truly humbling to be met with such support and feel the great craving for organic, clean label plant products that offer gastronomic excitement."

Thomas Grotkjær, Partner, Planetary Health Investments, Novo Holdings, added: "As the largest food tech fundraising round in Denmark this year, this funding reflects not only our confidence in MATR's organic, fermented products, but also recognition that MATR meets consumers' growing desire for foods that have a positive impact on health, climate, and the environment — all key focus areas for Novo Holdings — without compromising on taste."

Lasse Köhler, Investment Manager, EIFO Green Transition Investment Team, said: "EIFO's investment in MATR Foods exemplifies our commitment to supporting Danish food innovation and the green transition around the globe. MATR Foods' technology enables the production of plant-based meat alternatives with a remarkably low carbon footprint, offering high culinary quality at a competitive price. This investment strengthens Denmark's position in the development of sustainable foods with significant export potential."

Established in Copenhagen in 2021, MATR specialises in developing innovative, organic, plant-based meat alternatives using traditional fungal fermentation techniques. Locally sourced organic ingredients like oats, split peas, lupins, beetroots, and potatoes are transformed into products with a juicy texture and meaty flavour, offering a nutritious and sustainable alternative without the need for additives or heavy processing.

The company's flagship product, MATR Fungi Mince, is made entirely from natural ingredients grown in Scandinavia. Rich in protein and fibre and low in fat, the product has an amino acid profile like meat, but with a carbon footprint of just 1.5 kg CO2_e per kg, which is 94% lower than that of beef.

About MATR Foods

MATR Foods is a Danish start-up that combines microbiology and gastronomy to create new solutions to some of the world's greatest challenges: the climate, biodiversity and health. MATR was founded in 2021 and has production facilities in Copenhagen's Nordhavn. The people behind MATR are an international team of researchers, chefs and entrepreneurs with food industry experience.

MATR Foods' fungi products are currently available at Gasoline Grill, Sticks n' Sushi, Mother Pizza, Sokkelund Brasserie, Meyers canteens, Nemlig.com, Alma and Aarstiderne among others.
Matrfoods.dk

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation, one of the world's largest philanthropic enterprise foundations.

Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S and manages an investment portfolio with a long-term return perspective.

In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Principal Investments, Planetary Health Investments, and Asia teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2024, Novo Holdings had Total Assets under Management of DKK 1,060bn (EUR 142bn).
www.novoholdings.dk

About EIFO – The Export and Investment Fund of Denmark

As Denmark's national promotional bank and official export credit agency, EIFO works to open doors for global business, drive the green transition, advance innovative technologies, and contribute to Denmark's security.

With total commitments exceeding EUR 22 billion and activities in more than 100 countries, EIFO provides financial solutions to Danish companies and their global partners.

EIFO is also Denmark's largest venture investor, investing in both startups and funds. In 2024, EIFO made 78 investments in companies and 16 in funds.

Read more at www.eifo.dk