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Funding
Yumgo raises EUR 3 million in venture funding to solidify market presence in Europe
Plant-based Dairy & Egg
Jul 2, 2024
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Plant-based Dairy & Egg

Plant-based Dairy & Egg

Jul 2, 2024

Yumgo raises EUR 3 million in venture funding to solidify market presence in Europe

Funding

  • Yumgo, a producer of plant-based egg substitutes, has secured EUR 3 million (~USD 3.2 million) in funding led by Blast Club, with participation from bpifrance Amorçage Industriel, 50 Partners, and eminent business angels.

  • The raised funds will be allocated to bolstering its presence in France and international markets and intensifying its marketing and sales strategies. Additionally, they will aid in streamlining its industrial production processes and fostering continuous R&D for product innovation and improvement, specifically for industrial applications.

  • Yumgo's innovative range of egg substitutes has garnered recognition among professional bakers and chefs in over 10 countries. Since its establishment, the company has achieved a 3x increase in revenue each year, resulting in a cumulative turnover exceeding EUR 1 million (~USD 1.1 million) by the end of 2023.

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