Formo closed $61M Series B round

German food fermentation startup Formo secured $61 million in a Series B funding round. The round included existing investors such as Foodlabs, EQT Ventures, Lowercarbon Capital, Happiness Capital, Elevat3 Capital, M Ventures, and Grazia Capital. New investors Sazaby League, Seven Ventures, Woodline Partners, Indiposa Investments, The Nature Conservancy, and REWE Group also participated.

Formo specializes in the production of animal-free cheese alternatives using micro fermentation to create Koji Protein. The company plans to use the new capital for international expansion, diversifying its product range, driving revenue growth, and advancing its technology platform to accelerate the commercialization of animal-free casein products for hard cheeses. Formo has launched its first Koji Protein-based cheese alternatives in over 2,000 stores across Germany and Austria.