Rival Foods raises €10 million to scale whole-cut plant-based meat

Dutch food tech company Rival Foods has raised €10 million (US$10.7 million) in Series B growth funding to accelerate the rollout of its whole-cut plant-based meat products. The round was led by APG, investing on behalf of Dutch pension fund ABP, with support from PYMWYMIC, ROM Utrecht Region, and existing investor PeakBridge.

The Amersfoort-based company, a 2019 spin-out from Wageningen University & Research, is known for its proprietary technology that transforms standard plant proteins into fibrous, meat-like structures designed to replicate the texture, taste and bite of traditional meat cuts – without artificial additives or heavy processing. Rival Foods’ focus is on clean-label, minimally processed products that meet the expectations of chefs, retailers and brands looking for next-generation alternatives.

“With the backing of world-class investors, we’re ready to scale fast and reshape the future of protein,” said Birgit Dekkers, Rival Foods Founder & CEO. “We’re called Rival for a reason – we’re here to be one.”

The new investment will allow Rival Foods to double production capacity at its facility in Geldrop and further scale its manufacturing platform, which is designed to deliver cost efficiency alongside culinary performance. The company is aiming to reach price parity with animal meat, something it says is now within reach without compromising on quality.

“This investment marks a major milestone in our mission to make high-quality plant-based meat mainstream,” Dekkers added.

Unlike many consumer-facing brands in the category, Rival Foods takes a B2B-first approach, working behind the scenes with chefs, food-service providers, and retailers across Europe. Its products are already being used in commercial kitchens, with plans underway to deepen partnerships and expand into new international markets. The funding will also support team growth as the company prepares for broader global distribution.

Backers say Rival Foods has achieved what few in the category have managed: the trifecta of taste, texture, and cost.

“Rival Foods have built something special: a scalable process to turn standard plant proteins into exciting fibrous, meat-like structures,” said Lodewijk Meens, senior portfolio manager at APG. “With this investment, our client ABP seeks to achieve strong financial returns while simultaneously reducing the environmental footprint of food consumption.”

Rogier Pieterse, Managing Director at PYMWYMIC, called the company’s progress a breakthrough for the sector. “Rival Foods has cracked the code on clean-label, plant-based proteins that truly deliver the taste and texture of meat. With products already matching animal protein on cost, they’re set to accelerate the shift toward a more sustainable, plant-powered future.”

Juri van Dolderen, Senior Investment Manager at ROM Utrecht Region, emphasized the role of Rival Foods’ production process in enabling rapid scale at a competitive price point. “We are confident Rival Foods will provide a strong boost to the further adoption of plant-based meat globally.”

Martina Pace, Partner & COO at PeakBridge, said her firm was proud to expand its investment in Rival Foods. “Real success in the alternative protein space demands three tough things to achieve: great taste, texture, and competitive prices. We’re proud to see Rival Foods achieving all three – and thrilled to help the next crucial phase: international growth and scaling production capacity even further.”