Prolupin’s new financing to boost plant-based growth
14 May 2018 --- Plant-based protein company Prolupin has announced the first closing of a double-digit growth financing round which will enable the German-based company to reach profitability.
After doubling its revenues on a yearly basis since market introduction of its Made with LUVE brand in 2015, the new financing will allow Prolupin to address the mass market for further growth.
The round was led by 7Life GmbH, a subsidiary of ProSiebenSat.1 Group, a European mass media company based in Germany. The round was joined by PESCH, an investment company of a German Single Family Office with its heritage in the fast-moving consumer goods sector, as well as existing investors eCAPITAL, Munich Venture Partners and Tate & Lyle Ventures.
The equity part of this first closing was accompanied by debt and subsidies to significantly expand the production facilities.
The 7Life investment brings a broad mix of media resources to Prolupin as it seeks to grow its Made with LUVE brand of purely plant-based non-dairy yogurts, milk, ice creams and cream cheeses on the European market.
“The addition of 7Life and PESCH to our team will enable us to accelerate the growth of the Made with LUVE brand. The TV support we are now able to deploy over the coming years will put the Made with LUVE brand center stage for consumers aiming for a healthy, sustainable lifestyle,” said Malte Stampe, CEO of Prolupin.
Reiner Kuester, Chairman of the Supervisory Board, added how this investment from industry experts would help Prolupin to become a major player in plant-based foods.
“We were attracted by the potential of the Made with LUVE brand to become a leader in the field of healthy plant-based foods and believe that our media resources can help position the brand firmly in the mind of the consumers,” says Juergen Reichle, General Manager of 7Life GmbH.
The lupine is a traditional protein-rich crop that has been used for centuries to feed humans and livestock and crop for soil improvement, according to ProLupine’s website.
The specialists want lupine to regain its place in the landscape, agriculture and nutrition, without genetic technology.
“By separating the lupine grain into several fractions, we obtain lupine protein isolates (LPI) with a protein content above 90 percent in the dry matter and a fiber-containing product from the inner fiber of the lupine seeds. Salient features of Lupine Protein Isolate (LPI) are its excellent emulsifying and emulsifying stability and its neutral taste,” it says.
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