Funding Round attributes
REDUCED, a Copenhagen-based company specialising in upcycled food ingredients has raised a total of $8.8 million in the second closing of its Series A funding round. The European Circular Bioeconomy Fund (ECBF) – part of a broader European initiative to enhance the region’s sustainability and circular economy efforts – has been a significant investor in this funding round.
Founded in 2020 by William Anton Lauf Olsen and Emil Munck de Voss, REDUCED operate from state-of-the-art facilities in Copenhagen where they work alongside the University of Copenhagen to turn side streams such as apple hulls and broken lentils from the food and agricultural sectors into premium umami flavours. They use an innovative fermentation process which aids the creation of high-quality products that have a CO2 emission reduction of up to 80% when compared with their traditional counterparts. So far they have achieved particular success in the DACH region where their products are sold to key distributors as well as high-profile Michelin Star Restaurants.
Emil Munck de Voss, Co-Founder and CEO of REDUCED, remarked on the funding, saying, “We are excited to welcome EBCF as our new shareholder in REDUCED. ECBF’s deep commitment to circularity, sustainability and technology aligns perfectly with our mission to elevate the flavour potential of upcycled side streams by creating high quality food ingredients. With ECBF’s strong presence in Germany, we are well-positioned to boost our efforts in the DACH region. The recent investment from ECBF is expected to further accelerate their market expansion as well as furthering their range and efforts in the culinary industry.
Mathias Brink Lorenz, Investment Director at ECBF, has also highlighted the value of the investment by stating, “REDUCED is at the forefront of developing sustainable and clean label savoury ingredients with a best-in-class flavour profile. The exciting combination of upcycled side streams and fermentation technology is a great example of what circular bioeconomy is all about. We are excited to join REDUCED as [an] investor and believe that our strong corporate network and LP base will be of great value [to] add to their growth journey ahead.”
