Project Eaden has announced that it has extended its seed funding round from €8 million to €10.1 million.

Berlin-based Project Eaden is a food tech company that has developed a novel fibre technology, which it says enables the creation of “ultra-realistic” plant-based meat products.

The first closing of the seed round was announced last year – totalling €8 million – and included Creandum as lead investor, along with Atlantic Food Labs, Shio Capital, Trellis Road and a group of “business angels”.

Last month, Magnetic and Atlantic Food Labs upped the seed round by another €2.1 million, which brought it to today’s total of €10.1 million. According to Project Eaden, the majority of the capital will be used for the development of its proprietary technology.

Co-founder Jan Wilmking said: “Project Eaden is a technology company, so we’ll be investing in our own research and development activities and the initial production setup. We’ve built a highly motivated team of professionals to further develop our unique, proprietary technology over the past nine months, including tissue engineers, food technologists, material scientists and culinary professionals.”

David Rosskamp, founding partner at Magnetic, added: “Project Eaden is meaningful innovation at its best, representing our mission to back world-class teams with a maximum possible footprint. We are happy to continue our long collaboration with the team.”

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