Parma, Italy-based foodtech startup specializing in plant-based cheese alternatives, Dreamfarm raised EUR 5 million in funding. The company announced the investment on November 6, 2023. Giampaolo Cagnin, a serial entrepreneur founder of Italiana Ingredienti, Campus, and Hi-Food, and Francesco Mutti, the owner and CEO of the Mutti Group, provided the investment to the firm.
Purpose of the transaction by Dreamfarm
The investment has already been used to establish an innovative production facility in Sala Baganza (PR). The facility is equipped with specific machinery to optimize a unique and patented production process.
With the latest investment, the company also seeks to expand distribution channels in Italy and abroad. It also has plans to deploy funds towards research and development to enhance the product portfolio while maintaining the company’s core philosophy.
What the company’s official has to comment
Giovanni Menozzi, CEO of the company, said, “Dreamfarm’s alternative to mozzarella is an innovative product with less than 1% saturated fat, making it appealing to consumers increasingly conscious of sustainability and nutritional profiles but unwilling to compromise on the goodness of a typically Italian product. It’s a dream come true to create a venture like Dreamfarm right here and have entrepreneurs of this calibre as part of our team. The sector is experiencing significant growth, and we are confident that we can make a global impact with the type of products we have and will continue to develop.”
What the investors have to comment
Giampaolo Cagnin, the investor in the firm, further added, “We invested in the project because we believe there is a real opportunity to revolutionize the sector, thanks to significant technological innovations and an engaging and highly recognizable branding on the shelf.
About the company
Founders Maddalena Zanoni and Mattia Sandei launched the company. After launching in May, the company introduced its first two products: a plant-based alternative to mozzarella with government-certified liquid status and a spreadable variety. Both are created through the fermentation of almonds using proprietary selected cultures. Its products only won over consumers’ taste buds but also captured the attention of the retail and food-service sectors, as well as the media.
After two years of research and development, and with a patented process, the company launched the world’s first and only plant-based alternative to mozzarella with government-certified liquid status as well as a Nutriscore A rating. The vision of the company is to create a range of plant-based cheese alternatives that are not only delicious but also nutritionally superior to existing products worldwide.
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