Umiami raises €32.5 million in new financing round

Umiami secures €32.5 million in a new financing round. These funds will enable Umiami to further industrialize its plant-based meat production and support its expansion in Europe and the US.

Paris - Umiami has secured €32.5 million in additional funding for its Series A financing. This brings the total volume of the Series A to €59 million. In total, the company has secured €100 million in funding to date. The €32.5 million financing round was led by SPI Fund and French Tech Seed (both managed by Bpifrance on behalf of the French government). Astanor Ventures, Redalpine, Newfund and VERSO Capital also participated in this round.

Expansion into the USA

The fresh round of financing will allow Umiami to focus more on its main objectives. These include further developing the production of its innovative plant-based meat substitute, accelerating its market launch in Europe to offer more consumers a sustainable alternative to conventional meat, and supporting its expansion strategy in the United States. Umiami was founded just three years ago with a vision to reduce the impact of the meat industry on the environment, health and animals by developing a tasty plant-based meat alternative.

Umiami's history

In May 2020, Umiami was founded by Tristan Maurel and Martin Habfast, followed by Clémence Pedraza, who joined this exciting company in October of the same year. In February 2021, the team expanded when the first employee was hired. A milestone was reached in April 2021 when Umiami successfully closed its first funding round (seed) of 2.5 million euros, paving the way for further developments. In March 2022, the innovation center opened to drive the development of innovative products. In April of the same year, Umiami raised an impressive second financing round (Series A) of 25.5 million euros. Umiami's rapid development continued, and in June 2022, the first shipment of plant-based meat alternatives from the pilot plant was launched. In December 2022, the company acquired a new factory, marking another important step in its remarkable development.