Perfeggt is preparing to launch its egg-free egg product in Germany, Switzerland, and Austria during the first quarter of 2022. The foodtech firm based in Berlin plans to introduce its chicken-free egg product in Germany, Switzerland, and Austria during the first quarter of 2022.
Today, Perfeggt announced it has raised $2.8 million in its first funding round to help with the initial launch and then expand internationally later that year.
EVIG Group, Stray Dog Capital, E2JDJ, Tet Ventures, Good Seed Ventures, Sustainable Food Ventures, and Shio Capital are among the round’s investors.
Tanja Bogumil, Perfeggt CEO Perfeggt is part of Lovely Day Foods GmbH and was co-founded earlier this year by Gary Lin, EVIG’s founder and CEO, as well as Bernd Becker, who was a long-time head of R&D for Rügenwalder Mühle (a German vegetarian and vegan meat maker).
“I really believe we deserve better food,” Bogumil told.
“My mother’s family is from an agriculture background in small-scale farming, so I have always been conscious of where the food we eat comes from. I turned vegetarian at 12 when my uncle brought me to a slaughterhouse to show me that the sausages I ate were not made the right way. I didn’t fully get what was happening there, but it didn’t feel right or humane.”
Global egg scarcity is an issue that many aren’t aware of, according to Bogumil. Although there are plant-based competitors like Simply Eggless and Just Eat, which raised $200 million in August, worldwide 1.3 trillion eggs are produced every year, implying opportunity for growth and applications are versatile.
Perfeggt’s first plant-based egg product is a protein-rich liquid alternative composed of fava beans, according to the company. It may also be cooked in a pan as a scrambled egg or omelet. The firm plans to begin selling its solution through food service companies initially.
With all foods, taste is queen, and the co-founders sought to replicate the mouth feel, sensory experience, tastes, and textures of animal products—all qualities that Bogumil considers necessary for customers to switch to a plant-based equivalent.
“This is something we spent time on figuring out,” she added. “Our product is built around the fava bean, which is very suited to mimic functionality required for these applications.”
Perfeggt’s R&D facility in Emsland, Germany collaborates with Wageningen University & Research, which is recognized for its life sciences research, to evaluate plant-based protein sources and their combinations to see whether they match the nutritional and functional characteristics of animal foods.
The new capital allows the firm to expand its staff at its headquarters and R&D center. The business is currently looking for food scientists, marketing specialists, and R&D professionals. Meanwhile, Bogumil thinks that more firms entering the egg replacement market will aid Perfeggt’s goal of moving people to plant-based diets.
“This is not a one-winner-takes-all market,” she said. “We have never in history seen alternative proteins be so close to the mainstream market. Clearly that is reflected in the capital markets, and not just for developing niche markets, but for the future of food.”
“We are incredibly impressed by the team’s rapid technological progress in developing next-generation alternative proteins and finding solutions that improve human, planetary and animal health,” Stephanie Dorsey, founding partner at E2JDJ, added in a written statement.
“The egg market is a massive opportunity and this is just the beginning.”
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