French food-tech company Umiami, known for its plant-based meat fillets, has announced a new €32.5 million ($34.7 million) financing round.

The latest funding round brings the total amount secured in three years to €100 million. The deal was led by Sociétés de Projets Industriels (SPI) fund and French Tech Seed, both managed by Banque Publique d’Investissement (BPIFrance) for the French government.

Other participants included Astanor Ventures, Redalpine, Newfund and Verso Capital. The round met three key objectives for Umiami: to boost industrialisation of its ‘Umisation’ technology, speed up distribution in Europe and support expansion into the US.

The company’s Umisation texturizing technology is designed to perfectly mimic the texture and taste of meat and fish, with equivalent nutritional value. The company’s plant-based meat fillets contain under ten ingredients and are free of texturizing agents and additives.

Umiami is launching a new factory in Alsace, with a capacity of 7,500 tons per production line and plans to grow this figure to 20,000 tons over time. The company is investing in innovation through its R&D centre, with plans to develop more products.

The start-up has expanded its presence in the foodservice sector in several European countries including Switzerland, Belgium, the Netherlands, Spain and Italy. It has also revealed plans to announce new partnerships in early 2024.

Supporting its expansion into the US, Umiami has recruited John Hatto as its new managing director for North America. Hatto brings over 30 years of experience in the food and beverage industry.

Matthew Sade, venture partner at Astanor Ventures, said that Umiami’s unique technology and product line exceeds consumer expectations “in a way that no other product on the market does”.

He added: “Umiami’s chicken is clearly one piece of the puzzle to speeding the global transition to a more sustainable food supply”.

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