Melt&Marble secures €2.5m grant and equity investment
Melt&Marble beat 901 companies to be one of 68 European deep tech start-ups chosen to receive the blend of grant and equity funding ‘unique’ to the EIC Accelerator. What’s more, the company was one of 14 female-led companies to succeed in this funding round.
In addition to the €2.5m EIC grant, Melt&Marble has also secured a further €260k grant from the Horizon Europe Framework Programme, part of the EU’s ‘Farm to Fork’ strategy.
Support from the EIC will help accelerate Melt&Marble’s development of dairy fats for enhancing organoleptic properties of dairy analogues as part of its DairyMarble programme.
‘Recognised for our efforts’
Commenting on her success in the funding round, Melt&Marble co-founder and chief executive Anastasia Krivoruchko said: “We’re thrilled to receive this funding and proud to be recognised for our efforts in driving the transition towards a more sustainable food system.
“The EU's commitment to supporting innovative food production technologies is truly encouraging. This funding will help bring us a step closer to offering delicious and healthy meat and dairy analogues, significantly improving both sustainability and food security.”
The EIC funding will enable Melt&Marble to further scale-up its process and advance to pre-commercial levels. The grant will also support the application development of the company's first product, MeatyMarble, while reducing production costs in preparation for a commercial launch.
‘Significant milestone’
Chief business officer Thomas Cresswell added: “These grants mark a significant milestone for Melt&Marble, enabling us to decrease production costs, scale our innovative technology and bring sustainable fats to market.
“We are excited about the opportunities this creates for us to progress on our mission to enable the transition to a more sustainable agri-food system.”
Melt&Marble’s first product, MeatyMarble is a solid, meat-like fat designed to replicate the properties of animal-derived fats for use in alternative meat products. In parallel, Melt&Marble is exploring MeatyMarble’s potential in other industries, including personal care, where there is a growing demand for sustainable specialty fats driven by evolving consumer preferences.
Meanwhile, meat alternatives and plant-based proteins were the hot topic when we spoke to Anastasia Krivoruchko on the Food Manufacture Podcast.
