The Mediterranean Food Lab (MFL), an Israeli FoodTech company using fermentation to produce innovative, plant-based, and clean label flavor solutions and culinary ingredients, announces the completion of a $17M series A investment round.
MFL uses a unique Solid-State Fermentation (SSF) process to transform food ingredients, such as agricultural commodities, upcycled agro-industrial waste and side-streams into valuable, healthy, clean-label, sustainable and delicious flavors for Food Service and Food Companies. MFL’s unique innovation process is driven by the culinary insights of a team of world-class chefs working together with leading scientists and technologists.
The funding round was led by Gullspång Re:food, together with PeakBridge (a member of Edmond de Rothschild Private Equity partnership), Arancia International, FoodBridge (from Axel Johnson’s group), and additional investors who together bring vast food industry expertise to MFL’s mission: developing disruptive flavor solutions that will greatly accelerate transition from animal-based to plant-based foods.
Gustaf Brandberg, General Partner of Re:food says, “Gullspång Re:food is excited and honored to lead this investment round. We are impressed by the team’s ability to tailor complex and delicious flavors from natural ingredients, inspiring more people worldwide to choose alternatives to meat.”
Yoni Glickman of Peakbridge adds, “We are proud to be the first investor in MFL. From the first time we met the team and tasted the products, we immediately understood how this team and technology can be a huge driver in overcoming one of the most significant barriers to plant-based eating namely, the insufficient sensory experience. We are excited to continue investing in the company, and to work with the new investors and the whole MFL team.”
“We are thrilled to be a part of MFL’s exciting journey ahead. The team’s dedication to crafting innovative flavors and ingredients places them in a distinctive position to revolutionize the food industry” said Sofie Borg, Project Manager at FoodBridge.
The investment will help the company execute its commercial plans – to scale up industrial production and build a sales team to lead the European commercialization of its flavor ingredients to Food Service and CPG companies.
B.Z. Goldberg, CEO of MFL: “The Mediterranean Food Lab has developed a breakthrough technology with immense potential to transform the food industry. We are excited to partner with Re:food, Peakbridge, Arancia , and Axel Johnson, who share our mission to facilitate the sustainable protein transition, in our drive to bring our products to the market. I would also like to thank our team, who are working around the clock and extremely hard to make it happen.”