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Tuesday, November 30, 2021

Perfeggt Raises First Capital to Pay for Herbal Egg Alternative – TechCrunch

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Sales of plant-based alternatives, such as dairy and meat, are emerging in the global marketand Perfeggt wants to do the same with the egg.

The Berlin-based food technology company is set to introduce its chicken-free egg product in the first quarter of 2022 in Germany, Switzerland and Austria. Today, the company announced that it raised $ 2.8 million in its first round of funding to aid the initial launch and then further expand in Europe later in 2022.

Sponsors in the round include EVIG Group, Stray Dog Capital, E2JDJ, Tet Ventures, Good Seed Ventures, Sustainable Food Ventures, and Shio Capital.

Perfeggt CEO Tanja Bogumil co-founded the company, which is part of Lovely Day Foods GmbH, earlier this year with Gary Lin, founder and CEO of EVIG, and Bernd Becker, who was longtime head of R&D. from Rügenwalder Mühle, a German. vegetarian and vegan meat maker.

Perfeggt co-founders, left to right, Bernd Becker, Gary Lin and Tanja Bogumil. Image credits: Patrycia Lukaszewicz

“I really think we deserve better food,” Bogumil told TechCrunch. “My mother’s family comes from farming in small-scale farming, so I have always been aware of where the food we eat comes from. I became a vegetarian at 12 when my uncle took me to a slaughterhouse to show me that the sausages I ate were not made the right way. I didn’t fully understand what was happening there, but it didn’t feel right or human. “

Unlike dairy, where sustainability already exists, she believes the egg is still largely untapped. Sure, there are companies that make similar plant-based alternatives, like Simply Eggless and Just Eat, which raised $ 200 million in early summer, but all over the world, More than 1.3 billion eggs are produced per year., which means there is room to grow and the applications are versatile, Bogumil said.

Perfeggt’s first plant-based egg product is a protein-rich liquid alternative made from lima beans. It can be prepared in the form of a scrambled egg or omelette in the pan. Initially, the company will launch its product with foodservice organizations.

As with all foods, taste is king, and with this product, the co-founders worked to create similar mouthfeel sensations, sensations, flavors and textures – all elements that Bogumil says are necessary for people to switch to a herbal equivalent.

“This is something we spend time to find out about.” “Our product is based on the fava bean, which is well suited to mimic the functionality required for these applications.”

To do this, Perfeggt’s R&D site in Emsland, Germany, works closely with Wageningen University and Research, known for its life science research, to test plant-based protein sources and their combinations. that are closer to the nutritional and functional properties of animal products.

The new funding enables the company to develop its team at its headquarters and at its R&D facilities. Currently, the company is hiring food, marketing and R&D scientists.

In the meantime, Bogumil believes that more companies entering the alternative-to-egg space will help Perfeggt’s mission to shift people toward plant-based foods.

“This is not a winner-takes-all market,” he said. “Never in history have we seen alternative proteins so close to the main market. Clearly, that is reflected in the capital markets, and not only for the development of niche markets, but for the future of food. “

“We are incredibly impressed by the team’s rapid technological progress in developing next-generation alternative proteins and seeking solutions that improve human, planetary and animal health,” added Stephanie Dorsey, E2JDJ founding partner, in a written statement. . “The egg market is a great opportunity and this is just the beginning.”

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