Mö Foods raises 2.4 million euros for oat cheese alternatives

The Finnish food tech start-up Mö Foods has closed a financing round of 2.4 million euros. The round was led by investor Nordic Foodtech VC. The company intends to use the fresh capital to scale its proprietary production technology and prepare for international expansion.

Mö Foods develops award-winning cheese-like oat-based products that are designed to compete with classic cheese in terms of taste, functionality and texture.

From the niche to the mass market

While plant-based cheese alternatives have long been considered niche products, Mö is consciously positioning itself as a supplier for the mainstream. The products are not only intended to appeal to vegans, but to all consumers who value taste, suitability for everyday use and sustainability.

The basis for this is the company's own production process, which works with a short list of ingredients, minimal processing and the use of locally grown Finnish oat raw materials. According to the company, all the oats are used, thus avoiding side streams.

Strong growth and international ambitions

Mö Foods was founded in 2017 by sisters Annamari Jukkola and Marjaana Vuorio, who grew up on a Finnish dairy farm. Today, Mö products, including meltable and sliceable cheese alternatives, are available in major Nordic retail chains such as S-Group, K-Group and Lidl Finland.

In 2024, Mö's retail sales grew by 88 percent, while the market for plant-based cheese alternatives in Finland grew by around 18 percent overall. At the same time, the company is preparing to expand into other European markets and plans to license its technology to large food manufacturers in the future.

Sustainability as a key driver

Traditional cheese is one of the most resource-intensive foods. By using oats as the main ingredient, Mö claims to reduce both its carbon footprint and land consumption along the entire value chain.

The latest financing will be used to expand production capacities, further develop technological expertise and establish Mö as an international reference point for oat-based cheese alternatives.