Food Tech Firm Formo Secures Major EU Investment
Formo's products have names that allude to Berlin districts. Here “Camembritz”, with reference to the district of “Britz” in the south of Berlin. - © Formo
Berlin-based food technology company Formo has secured a €35 million venture debt loan from the European Investment Bank (EIB), bringing its total financing to €135 million, according to a company announcement on LinkedIn. This latest funding, guaranteed by the EU's InvestEU program, follows Formo's successful €59.43 million Series B round in September 2024.
The Berlin-based company specializes in developing animal-free alternatives through two distinct fermentation processes. Their microfermentation technology utilizes koji fungus to create taste-neutral proteins for cheese alternatives, while their precision fermentation focuses on producing bioidentical milk proteins, including caseins with melting properties comparable to traditional dairy.
Formo is expanding beyond its existing product line, which includes Frischhain, a cream cheese alternative currently available in METRO and REWE stores across Germany and Austria. The company is developing new cheese varieties, including feta and blue cheese, alongside an innovative egg alternative suitable for both cooking and baking applications.
"We want to show that European innovation companies can not only generate clever ideas, but also scale new technologies and successfully commercialize them," said Formo founder Raffael Wohlgensinger. The company is currently seeking regulatory approval for its precision fermentation products in the USA and plans to pursue European approval subsequently.
The EIB investment signals strong institutional support for sustainable food innovation in Europe, as Formo works to make its alternatives the preferred choice for environmentally and health-conscious consumers.
