Cheese alternatives have grown quickly, but many still struggle to win over everyday shoppers. Taste, texture, and price often fall short, keeping plant-based cheese stuck in a niche.
At the same time, traditional dairy cheese remains one of the most resource-intensive foods to produce, putting pressure on both the environment and supply chains. And that’s exactly what Finland-based Mö Foods is planning to solve!
Lohtaja-based Mö Foods has raised €2.4 million in a fresh funding round led by Nordic Foodtech VC, which focuses on early-stage food and agriculture innovation.
How will the funds be used?
The company plans to use the capital to expand its proprietary production technology and increase capacity.
The Finnish company is also preparing to expand beyond the Nordic region, with plans to enter additional European markets and pursue international partnerships.
“Our goal at Mö has always been to create foods that reflect how people eat today: good food at a fair price, made responsibly. Growing up on a dairy farm gave us a respect for how cheese is made, and also for the value people place on it. We’re bringing that same quality and care to a new process, using oats to make something familiar, but lighter on resources. This funding helps us do that at scale,” said Annamari Jukkola, CEO and co-founder of Mö.
Developing cheese alternatives from Finnish oats
Founded in 2017 by sisters Annamari Jukkola and Marjaana Vuorio, Mö Foods develops cheese alternatives made primarily from Finnish oats. The founders grew up on a dairy farm, which shaped their approach to recreating cheese while preserving taste and functionality.
The company uses a proprietary production process that allows it to use the whole oat, reducing waste and avoiding sidestreams. The result is a short ingredient list and products designed to melt, slice, and perform like dairy cheese. The company sources locally grown Finnish oats, which are known for their low environmental impact and consistent quality.
Mö’s range is already available in major Finnish retailers, including S-group, K-group, and Lidl Finland. The company has also received industry recognition, including Finnish Food Innovation of the Year 2024 and an award for its oat-based Mö Chavre.
According to the company, sales growth has outpaced the wider plant-based cheese category, which expanded by roughly 18% in Finland last year.
In 2024, Mö reported strong year-on-year retail growth of 88%, driven by new product launches, expanded distribution, and consistent sell-through across major chains, including S-group, K-group, and Lidl Finland.
Beyond retail, the company plans to license its technology to larger European food producers to accelerate the adoption of oat-based cheese at scale.
“Mö is taking unique Finnish oats and their healthy properties to a completely new level. Added-value products, with unique technology, are the exact kind of food knowledge that we want to support and scale internationally. Mö is setting the standard for the whole industry on how plant-based products should meet expectations in taste and experience – and how this expertise can be taken to international markets,” said Mika Kukkurainen, partner at Nordic Foodtech VC.
