Key Takeaways
- Mö Foods has raised €2.4 million to scale its oat-based cheese technology and expand internationally.
- The company’s products emphasize minimal ingredients and taste, positioning them as a “post-vegan” alternative to traditional dairy.
- Mö Foods is experiencing significant growth, outpacing the Finnish plant-based cheese sector with an 88% increase in retail sales.
Funding and Growth Trajectory
Finnish food-tech company Mö Foods has successfully secured €2.4 million in a funding round, led by Nordic Foodtech VC. The funding aims to accelerate the scaling of its innovative oat-based cheese production technology and support international expansion. Established in 2017 by sisters Annamari Jukkola and Marjaana Vuorio, Mö Foods is carving a niche in the emergent realm of plant-based cheese alternatives.
Unlike many competing products that depend on various additives and complex processing, Mö Foods utilizes locally sourced Finnish oats through a proprietary process that aims to replicate the flavor, texture, and melting qualities of dairy cheese, while keeping the ingredient list minimal and natural. The company offers meltable and sliceable oat-based cheeses, which are already available in major Nordic retail chains, with plans for broader distribution across Europe.
The funding arrives as the alternative cheese market undergoes transformation, with consumers increasingly placing importance on taste, usability, sustainability, and price parity. Mö Foods embraces what it terms a “post-vegan” consumption model, which necessitates that products not only attract consumers for ideological reasons but also compete on quality and performance. CEO Annamari Jukkola emphasized the company’s commitment to creating food that aligns with modern eating habits, stating, “Our goal at Mö has always been to create foods that reflect how people eat today.”
Sustainability is at the core of Mö Foods’ operations, focusing on thorough oat utilization that reduces sidestream waste and significantly lowers land use and carbon emissions compared to traditional dairy methods. Oats, regarded as one of Finland’s most sustainable crops, offer a more environmentally friendly alternative to many protein sources.
Mika Kukkurainen, a partner at Nordic Foodtech VC, remarked on Mö’s innovation, highlighting how the company is elevating Finnish oats and providing value-added products that fulfill market expectations for taste and experience. Commercially, Mö Foods is outperforming the broader alternative cheese sector; while Finland’s plant-based cheese market saw an 18% growth in 2024, Mö reported a remarkable 88% increase in retail sales, driven by new product launches and solid sales across retailers like S-group, K-group, and Lidl Finland.
In addition to expanding its retail presence, Mö Foods is strategizing to license its proprietary technology to larger European food producers. Stefan Lindberg, chairman of the board at Mö Foods, stated that the funding represents a pivotal moment for the company, as they intertwine food science with consumer needs to create a model that is both premium and profitable amid challenges faced by the industry.
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