MOA Foodtech has obtained 1.5 million euros as a seed round to scale its production of sustainable proteins for food and expand to the Asian and American markets. This investment round was led by two IBEX 35 companies, plus the leading food accelerator in Southern Europe, Eatable Adventures, and Big Idea Ventures, the New York-based alternative protein fund.
Moa is founded by Susana Sánchez (CSO), who holds a PhD in microbiology and was previously the director of innovation of a biopharmaceutical company; José María Elorza (CFO), coming from the banking / M&A sector; and Bosco Emparanza (CEO), biochemist at the University of Navarra with an MBA in biotechnology companies.
”Our current way of producing food is unsustainable. It causes 24% of greenhouse gases and 80% of deforestation, where 77% of the surface is used for animal feed. For this same reason, industry and society need sustainable and global solutions,” says Bosco Emparanza. ‘’Our mission is to produce sustainable and nutritious food. Right now we are working on developing foods using our ingredients in the dairy, meat and snack sector, among others.’’
Moa is committed to R&D and so far this year it has obtained nearly 400,000 euros in grants for the development of new technologies and applications.
Moa foodtech, together with Cocuus, Proppos, H2hydroponics and Innomy are the finalists of the first edition of Spain Food Tech, the Eatable Adventures’ acceleration program supported by the National Center for Food Technology and Safety (CNTA) and ICEX Spain Export and Investment.
Moa has been awarded: Orizont award for the most innovative company, finalists in Leyton CES Challenge Las Vegas, winner of the Spanish stop of the `On The Road! Culinary Action´ of the Basque Culinary Centre.