Food tech startup Perfeggt – The egg without chicken – raises 2.8 million USD
- Plant-based egg alternative backed by leading international food and AgriTech investors: EVIG Group, Stray Dog Capital, Good Seed Ventures, E²JDJ, Sustainable Food Ventures and Shio Capital
- Market launch expected in Q1 2022 across Germany, Austria, Switzerland with expanded international offerings later 2022
Berlin, November 25th, 2021. Berlin-based food tech company Perfeggt has successfully closed its first financing round of over 2.8 million USD (2.5 million EUR) in support of its chickenless egg product. Backers include leading AgriFood investors from around the world such as EVIG Group, Stray Dog Capital, E²JDJ, Tet Ventures, Good Seed Ventures, Sustainable Food Ventures and Shio Capital, early investors in global companies like Beyond Meat, Gorillas and Good Catch. Perfeggt’s debut product will initially launch early 2022 in Germany, Switzerland and Austria markets with further European expansion in the coming months.
While plant-based products such as oat milk or vegan sausages are on the fast track with a booming global market, the market for alternative eggs remains untapped despite enormous growth potential. Worldwide, over 1.3 trillion eggs are consumed annually with 110 billion eggs in Europe alone. The plant-based liquid egg alternative is formulated from field bean proteins and can be fried in a pan just like traditional scrambled eggs or an omelet.
"With Perfeggt, we are offering a real alternative for one of the most popular animal proteins in the world,” said Tanja Bogumil, CEO of Perfeggt. “We’re more than convinced that it’s about time to rethink the egg as part of our daily diet with plant-based proteins and data-driven technology.”
Bernd Becker, Perfeggt’s Chief Product Officer, is a pioneer in developing highly popular vegetarian and vegan alternative meat-products. As the 25 year head of R&D for Rügenwalder Mühle, the market leader in vegetarian and vegan meat alternatives in Germany, he helped the company gain the largest market share for alternative meat-products. At Perfeggt, Becker is responsible for sustainable and ambitious product development and to create a plant-based egg that tastes, looks and feels like a chicken egg.
"We are aware that taste and texture are key. That is why we are laser-focused on matching the right plant-based proteins and lipids that allow us to replicate the exceedingly complex multifunctional and versatile characteristics of an egg and its indistinguishable taste," Becker explained.
Perfeggt is supported by company builder EVIG, specialized in building science-driven startups disrupting the food sector, ending the reliance on factory farming. EVIG’s founder and CEO Gary Lin is also among Perfeggt’s co-founders.
"We believe that with scientific excellence and innovative technology, animal-based products can be easily eliminated from the menu, and Perfeggt is the result of exactly that,” Lin said. "We expect Perfeggt to quickly gain significant market share and reach high, sustainable growth with continuous product innovation in the coming years."
Johnny Ream, Partner at Stray Dog Capital, explained: "We see the data driven approach to product and R&D as truly differentiated. It sets up a methodical process for continued product development over a long term horizon, and brings the capability to produce major breakthroughs in the alternative egg format. We’re incredibly excited to partner with the Perfeggt team on this journey.”
Stephanie Dorsey, Founding Partner at E 2JDJ, commented: “We are delighted to support Perfeggt. 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. The egg market is a massive opportunity and this is just the beginning."
More information at www.perfeggt.co
