Nxtfood raises €49 million to accelerate plant-based growth across Europe

French start-up Nxtfood, the company behind the ACCRO brand, has raised €49 million (US$52.3 million) in fresh financing to fuel its ambition of becoming a European leader in plant-based meat. The fundraising, the largest in its history, follows a year in which the company tripled its revenue and cemented its position as France’s fastest-growing plant-based specialist.

Founded in 2019 in the Hauts-de-France region, Nxtfood develops meat alternatives using locally grown wheat and pea proteins. Its ACCRO range now includes more than 20 products available across all major grocery retailers in France and served in over 10,000 foodservice outlets. The company, which achieved B-Corp recertification earlier this year, says its mission is to prove that plant-based food can combine sustainability with pleasure.

“This record fundraising is a true vote of confidence,” commented CEO Renaud Saïsset. “Our historical shareholders, Creadev and Roquette Ventures, have reaffirmed their support, and two new committed partners, Clay Capital and IRD Invest, are joining the adventure. But beyond the numbers, I want to salute the outstanding work of our team: it is thanks to their energy, their rigor, and their creativity that we have reached this decisive milestone. Together, we carry a clear ambition: to make ACCRO the driving force of the plant-based transition in France and in Europe.”

With the new funds, Nxtfood is targeting profitability within the next 12 to 18 months and aims to double revenues in 2025. Its growth plan rests on three pillars: expanding production capacity, strengthening R&D, and accelerating sales and marketing.

The company’s production site in Vitry-en-Artois will be tripled in size to 12,000 square meters, allowing greater output to match growing demand. R&D investment will focus on consolidating Nxtfood’s capabilities in wet extrusion, a technology central to achieving the taste and texture of its products. On the commercial side, the ACCRO brand will continue to drive domestic growth, while European expansion will prioritize B2B and co-manufacturing opportunities.

The Series B round was anchored by existing investors Creadev and Roquette Ventures, both of which increased their stakes, and joined by new backers Clay Capital and IRD Invest. Together, they bring a mix of industrial expertise, financial strength, and regional support to guide Nxtfood through its next growth phase.

Creadev, the impact fund of the Mulliez Family Association, has become majority shareholder. “We are proud of this new milestone for Nxtfood, whose industrial future is now fully aligned with its commercial performance,” said Baptiste Gormand, Senior Investment Director at Creadev. “The arrival of Clay Capital and IRD Invest further strengthens an already solid governance, alongside the Roquette family, and capable of supporting the company’s European ambition.”

Roquette Ventures, the corporate venture arm of the global ingredients group, also reinforced its commitment. “We are pleased to support Nxtfood in this new chapter, which reflects the quality of the team and the solid foundations built over the years,” said Jean-Bastien Bloch, Head of Roquette Ventures. “We look forward to continuing to work with them to make Nxtfood a European reference in plant-based proteins.”

For Clay Capital, a pioneer in high-impact agri-food investments, the round marks its first foray into plant-based meat. “We have long observed the plant-based meat market with caution, looking for the right alignment between product, strategy, and team,” said Matthieu Vermersch, Founder and Managing Partner of Clay Capital. “With Nxtfood, we have found a company that combines operational excellence at scale, European ambition, and a clear path to profitability – a challenge that few players in this sector are able to meet today.”

IRD Invest, part of Groupe IRD, contributed through its Nord Création fund dedicated to industrial and impact-driven start-ups. “IRD Invest is proud to invest in Nxtfood, an innovative and committed company that perfectly embodies the values we stand for,” said Hussain Sheikh, Investor Director at IRD Invest. “By supporting industrial start-ups with impact in the Hauts-de-France region, we aim to build a dynamic and sustainable local ecosystem – and Nxtfood’s project fits fully into this vision.”

The financing positions Nxtfood to accelerate its role in the European protein transition at a time when consumer demand for plant-based options continues to evolve. By scaling production and focusing on both branded and B2B channels, the company aims to balance growth with profitability – a combination still elusive for many players in the sector.

With backing from both long-term and new investors, and with its ACCRO brand gaining traction among retailers, restaurants, and consumers, Nxtfood is preparing to take its next step: from France’s fastest-growing start-up to a European plant-based champion.