Finnish food-tech company Mö Foods has secured €2.4 million in a funding round led by Nordic Foodtech VC, as the company accelerates the scaling of its proprietary oat-based cheese production technology and prepares for international expansion.

Founded in 2017 by siblings Annamari Jukkola and Marjaana Vuorio, Mö Foods is positioning itself at the forefront of a new generation of plant-based cheese innovation.

Unlike many dairy alternatives that rely heavily on additives and complex processing, Mö’s products are made from locally grown Finnish oats using a proprietary production process designed to replicate the flavour, texture, and melting performance of dairy cheese, while maintaining a short, natural ingredient list.

The company’s portfolio includes meltable and sliceable oat-based cheeses, now available in major Nordic retail chains, with broader European market entry planned.

The funding comes at a time of structural change within the alternative cheese sector, as consumers increasingly prioritise taste, usability, sustainability and price parity over purely ethical or lifestyle positioning.

Mö’s oat-based model reflects a shift toward what the company describes as “post-vegan” consumption, where products must compete directly with conventional dairy on quality and performance, not ideology.

Annamari Jukkola, CEO and co-founder of Mö Foods, said: “Our goal at Mö has always been to create foods that reflect how people eat today: good food at a fair price, made responsibly".

"Growing up on a dairy farm gave us a respect for how cheese is made and the value people place on it. We’re bringing that same quality and care to a new process, using oats to make something familiar, but lighter on resources. This funding helps us do that at scale.”

From a sustainability perspective, Mö’s production model focuses on full oat utilisation, eliminating sidestream waste while significantly reducing land use and carbon footprint compared to traditional dairy production. Oats are among Finland’s most sustainable crops, offering a lower environmental impact than many alternative protein sources.

Mika Kukkurainen, partner at Nordic Foodtech VC, commented: “Mö is taking unique Finnish oats and their healthy properties to a completely new level. Added-value products with unique technology are exactly the kind of food innovation we want to support and scale internationally."

"Mö is setting a standard for how plant-based products should meet expectations in taste and experience, and how this expertise can be taken to global markets.”

Commercially, Mö Foods is outperforming the wider category. While Finland’s plant-based cheese segment grew approximately 18% in 2024, Mö reported 88% year-on-year retail sales growth, driven by new product launches, expanded distribution and strong sell-through across chains including S-group, K-group, and Lidl Finland.

Beyond retail growth, Mö is also preparing to license its proprietary technology to major European food producers.

Stefan Lindberg, chairman of the board at Mö Foods, added: “This funding marks a turning point for Mö. By combining deep food science with consumer understanding, Mö has built a model that works at a time when much of the category is struggling. Mö is demonstrating that plant-based can be both premium and profitable.”