Earlier this year, Berlin-based plant-based egg alternative Perfeggt, bagged $4 million funding. Now, Neggst (formerly Bettr Egg / VEgg), another Berlin food-tech startup, revolutionising the market with its plant-based egg alternative, has secured a total investment of over €5 million.
Who invested in Neggst?
The investment was led by the Green Generation Fund, BayWa AGm the RWZ, the family office Corecam Capital Partners (Pte Ltd.) as well as renowned business angels, such as Cookies Cream (Berlin’s first vegetarian star restaurant) chef and Michelin-starred chef Stephan Hentschel, former Infarm CFO and one.five founder Martin Weber and former Chief Technology Officer of Beyond Meat Prof. Dr.-Ing. Bernhard van Lengerich.
Further pilot projects with food service companies are already underway, and in the future Neggst’s vegan egg will also be available in grocery stores.
Neggst on the successfully completed seed round: “First of all, it takes creativity and the technical know-how to develop a tasty and well-functioning plant-based egg alternative. However, to make it available to the masses, strong investors and partners are absolutely necessary. We are very pleased with the trust placed in Neggst in the first speed round and are ready for the second closing.”
Green Generation Fund on investing in Neggst: “We invest in companies that develop solutions to the really big problems of our time. Neggst can eliminate mass laying batteries for hens and save approximately one percent of global CO2 emissions through resource-efficient production of their plant-based alternative. We believe Neggst can be a global leader with its versatile product for the ‘egg’ category, like Oatly for dairy and Beyond Meat for meat alternatives.”
Marcus Pölliger, BayWa board member: “With our commitment, we are contributing to the further growth of Neggst Food GmbH. The demand for plant-based alternatives to conventional protein sources will increase in the coming years. For farmers, this will result in new attractive sales channels for plant-based agricultural raw materials. For this, Neggst is a forward looking, ideal partner for us.”
Stephan Hentschel, Chef de Cousine, Cookies Cream Restaurant, Berlin: “My experience with Neggst has been very good. I’m really pleased with the product and really enjoy working with it. We already have a dish on the Cookies Cream menu using Neggst, and we’re in the process of developing more dishes with Neggst.”
Two-component vegan egg startup
Neggst was founded in 2021 by Veronica Garcia-Arteaga and Dr. Patrick Deufel in collaboration with industry partners Zentis, Ehrmann and Fraunhofer IVV in 2021 in Berlin. It is revolutionising the food market with its innovative plant-based egg alternative.
It is claimed to be the world’s first company to succeed in developing a two-component plant-based egg white and yolk, as well as an eggshell that mimics nature.
The goal of Neggst is to make the progressive vegan egg feel like an upgrade from a chicken egg. This way, consumers will switch to sustainable alternatives if they are easy to use and convincing in terms of taste.