Heura Foods, a Spanish plant-based meat producer, has raised EUR 40 million (~USD 43 million) in a Series B funding round led by Upfield, with participation from Unovis Asset Management, European Circular Bioeconomy Fund (ECBF VC), and New Tree Impact.

The funds will be used by Heura Foods for international expansions and exploring new collaboration strategies beyond its existing line of meat alternatives to achieve profitability, drive innovation, and expand its tech patents portfolio.

Analyst QuickTake: To date, Heura has raised over USD 95 million in funding to help its goal of becoming a plant-based leader in Europe by 2027. Backed by additional crowdfunding and bridge rounds, the company plans to expand its footprint in markets like France, Italy, and the UK and enter new markets, including Austria, Germany, Switzerland, and the Netherlands.