Parma, Italy-based Dreamfarm, a food tech startup that produces plant-based alternatives to cheese, announced on Monday that it has raised €5M in funding.
The financing round was backed by two accomplished entrepreneurs — Giampaolo Cagnin, a serial entrepreneur who founded Italiana Ingredienti, Campus, and Hi-Food, and Francesco Mutti, the owner, and CEO of the Mutti Group.
“We invested in the project because we believe there is a real opportunity to revolutionise the sector, thanks to significant technological innovations and an engaging and highly recognizable branding on the shelf,” says Cagnin.
The Italian company will use the funds to establish a production facility in Sala Baganza (PR), equipped with specific machinery to optimise a unique and patented production process.
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