Bernese foodtech Luya Foods secures CHF 5 million for EU expansion
Agri-food
1 October 2024
Luya Foods continues its mission to reduce food waste by turning okara into plant-based nuggets, burgers, and more. | © Luya Foods
Luya Foods, known for creating plant-based meat alternatives from rescued okara, has raised CHF 5 million in a Series A funding round to support its expansion into the EU.
Luya Foods, the Bern-based start-up that transforms okara, a byproduct of tofu and soy milk production, into plant-based meat alternatives, has secured CHF 5 million in a Series A financing round. This new investment, led by Redalpine, Kickfund, and sustainability investor Lisa Schmidheiny, will enable Luya to achieve profitability in Switzerland and prepare for its expansion into the European Union.
Founded in 2021, Luya Foods has developed a proprietary fermentation process to turn nutrient-rich okara into natural, additive-free plant-based products. The start-up’s innovative approach reduces waste and contributes to a more sustainable food industry, creating products such as nuggets, burger patties and shredded alternatives.
Luya Foods’ unique approach to plant-based food production was first highlighted in 2021, when the company received seed funding to scale production and launch its products in Swiss restaurants. Since then, the company’s offering has expanded and is now available in major Swiss retailers, including Migros and Coop, as well as through its online shop. The company’s products can also be found in popular Swiss restaurants such as Tibits and in institutional settings such as the Zurich Children’s Hospital.
With the new funding, Luya aims to increase its production capacity and begin preparations for international expansion. The company will continue to operate from its production facility in Bern-Bümpliz, located in a former chocolate factory. The management team, consisting of co-founders Flavio Hagenbuch, Tobias Kistler and Nina Schaller, plans to use the capital to strengthen its foothold in the plant-based market while exploring new opportunities across Europe.
Luya’s expansion into the EU is expected to further its mission to reduce food waste while offering consumers healthy, sustainable alternatives to traditional meat products.
