Luya Foods closes seed funding round to launch its plant-based meat alternative
09.11.2021
Luya Foods, a spin-off of Bern University of Applied Sciences, closed its first seed round. Luya is redefining the plant-based protein space by creating a new category of animal-free, natural, and tasty alternatives to meat. The capital will be used to expand production, product development, and enter the retail market. The seed round was led by Redalpine Venture Partners. Luya was a Venture Kick winner earlier in 2021.
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Luya is the tasty plant-based alternative to meat that doesn’t try to be meat. Luya Foods is saving organic okara from waste: Okara is a byproduct of tofu and soy milk production. More than 14 million tons of okara are wasted worldwide each year despite its high nutritional value and fiber content. Luya has developed its own proprietary process—a combination of traditional fermentation methods and modern technology—to save okara and turn it into delicious food. 
The first products are ready-to-cook chunks and burger patties. With this process, Luya eliminates all additives and highly processed protein isolates and offers 100% natural and organic delicacies made in Switzerland.
The seed round was led by Redalpine Venture Partners. Previously, Luya was supported by the Gebert Rüf Foundation, >>venture>>, VentureKick and BFH-HAFL.
Following the successful launch of Luya Okara Chunks and Luya Okara Burgers in Swiss restaurants in July 2021, the Luya team plans to launch the products in Swiss retailers in 2022. To meet the rapidly growing demand for Luya’s delicious products, a first major production ramp-up is planned for 2022. In addition, the new financing will accelerate research and development for future Luya products and strengthen Luya’s fermentation platform.
“We are very pleased to have secured the necessary capital to launch Luya in the Swiss market, prepare our international expansion, and accelerate our mission to define a new category in meat alternatives with our natural and organic products,” said co-founder Flavio Hagenbuch.
“I am very excited to start this journey together with Luya Foods. I’ve never really liked soy-based meat alternatives, and this is the first product I really love—it’s incredible that it’s made from soy. We are very excited to help Luya Foods bring their products to consumers around the world,” said Nadine Geiser, investment manager at Redalpine.
Source: Translation of veconomist article
The first products are ready-to-cook chunks and burger patties. With this process, Luya eliminates all additives and highly processed protein isolates and offers 100% natural and organic delicacies made in Switzerland.The seed round was led by Redalpine Venture Partners. Previously, Luya was supported by the Gebert Rüf Foundation, >>venture>>, VentureKick and BFH-HAFL.
Following the successful launch of Luya Okara Chunks and Luya Okara Burgers in Swiss restaurants in July 2021, the Luya team plans to launch the products in Swiss retailers in 2022. To meet the rapidly growing demand for Luya’s delicious products, a first major production ramp-up is planned for 2022. In addition, the new financing will accelerate research and development for future Luya products and strengthen Luya’s fermentation platform.“We are very pleased to have secured the necessary capital to launch Luya in the Swiss market, prepare our international expansion, and accelerate our mission to define a new category in meat alternatives with our natural and organic products,” said co-founder Flavio Hagenbuch.
“I am very excited to start this journey together with Luya Foods. I’ve never really liked soy-based meat alternatives, and this is the first product I really love—it’s incredible that it’s made from soy. We are very excited to help Luya Foods bring their products to consumers around the world,” said Nadine Geiser, investment manager at Redalpine.
Source: Translation of veconomist article