GOLD advises MOA Foodtech on €1.5m financing round

GOLD Abogados has advised Spanish start-up MOA Foodtech on the closing of a €1.5 million financing round

MOA Foodtech, a start-up specialised in the development of alternative proteins through precision fermentation, has closed a €1.5 million financing round led by Viscofan and Clave Capital and including the participation of Banco Sabadell, Eatable Adventures, Sodena and Big Idea Ventures, New York based fund specialized in alternative proteins. The financing round has also included the granting of SAFEs (Simple Agreements for Future Equity).

The incorporation of new investors, both national and international, with a highly specialized profile, will provide MOA Foodtech with the necessary support in the company’s commercial and investment strategy.

With the funds obtained in this round, MOA Foodtech intends to scale its production of sustainable proteins for food and reach a semi-industrial scale before the end of 2021, as well as to gain presence in other markets such as Asia and America.

MOA Foodtech has been recognised as “Best European Startup” during the SMart Agrifood Summit. It has also been awarded with the Orizont Award to the most innovative company and has won the Spanish stop of the On The Road! Culinary Action! of the Basque Culinary Center.

GOLD Abogados´ team advising on this deal was made up of M&A partner José de Santiago (pictured left) and of counsel Beatriz de Basterrechea (pictured right).

Desire Vidal