Finnish foodtech Mö Foods raises €2.4M to scale oat-based cheese production and expand across Europe

Mö Foods, a Finnish foodtech company producing oat-based cheese alternatives that replicate traditional dairy while reducing environmental impact, has raised €2.4 million in a funding round led by Nordic Foodtech VC, to make oat-based cheese alternatives a mainstream global staple.

About Mö Foods

• Mö Foods is a Finnish food technology company founded in 2017 by sisters Annamari Jukkola and Marjaana Vuorio, who grew up on a dairy farm. 

• The company develops oat-based cheese alternatives made from locally sourced Finnish oats using proprietary technology that replicates the taste, texture, and meltability of traditional dairy products while lowering environmental impact.

• Mö focuses on creating sustainable, minimally processed products with short ingredient lists that appeal to both vegan and mainstream consumers. 

“Mö Foods is taking unique Finnish oats and their healthy properties to a completely new level. Added-value products, with unique technology, are exactly the kind of food knowledge we want to support and scale internationally. Mö is setting the standard for how plant-based products should meet expectations in taste and experience, and how this expertise can be taken to international markets,” says Mika Kukkurainen, partner at Nordic Foodtech VC.

Investment details

The round was led by Nordic Foodtech VC, a Finnish venture capital firm founded in 2020 that invests in early-stage, research-based solutions transforming the food system. The fund focuses on sustainable and innovative food technologies across Europe, particularly in the Nordics.

The company’s portfolio includes Chromologics, Solar Foods, Ironic Biotech, NPHarvest and ÄIO.

Mö Foods plans to use the funding to scale its production, further develop its oat-based cheese technology, and expand across European markets through new product launches, B2B collaborations, and technology partnerships.

Read more: Finnish biotech Avenue Biosciences raises $5.7M to scale protein engineering technology