Revo Foods

The world's first 3D-printed food in the supermarket

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1.230.806 € Funded
337 Investors
7 days left

Revo Foods

The world's first 3D-printed food in the supermarket

43 - 50 %
Targeted return per year
5,75 - 7,28 x
Targeted multiple
31.01.2029
loan term until
At the end of the term
Date interest payments
15.000.000 €
Pre-money valuation
1.500.000 €
Funding maximum

Description

Description

Short description

The global fish stock is 30% overfished and 60% completely depleted. The resulting destruction of marine ecosystems harbours the risk of a collapse of the largest ecosystem on our planet. A catastrophe for humans, animals and the environment.

Fish products are also often contaminated with harmful antibiotics, parasites, heavy metals (mercury) or microplastics. Nevertheless, the demand for fish products is constantly increasing, which emphasises the high market value of USD 400 billion per year.

But the hunger for delicious fish can also be satisfied in other ways. We, Revo Foods, offer all fish lovers a sustainable, plant-based, healthy alternative with a new generation of authentic fish alternatives.

To this end, we have developed an innovative 3D printing food technology that makes it possible for the first time to integrate a fat component into plant-based protein fibres. This creates a similar functionality and fibrousness to conventional fish filets and allows us to authentically reproduce complex products such as fish filets/muscle meat not only in terms of flavour but also texture.

In summer 2023, we brought the world's first 3D-printed food product, a vegan salmon filet, to the supermarket. In the next step, we plan to scale up our production and produce 60,000 salmon filets per month by Q3 2024. We have already received enquiries from some of the largest supermarket chains in Europe, which even exceed our initial capacity.

So now is the right time to scale up. Become part of this important mission to preserve marine ecosystems with healthy and authentic fish alternatives.

About Revo Foods



Revo Foods is a startup from Vienna that develops industrial 3D food printing technology to produce better meat/fish alternatives. The idea for the company originated from a research project by Robin Simsa during his doctoral studies. The company was founded in 2021 and was able to launch its first pilot products on the market in the same year.

By 2023, Revo Foods' first 3D printing process was completed with new hardware developments (and protected with 3 patents), and in September 2023, the world's first 3D printed product was finally launched in the supermarket (A salmon filet alternative based on Mycoprotein). This attracted a lot of interest from retailers and consumers, confirming the added value of the technology, which is why Revo Foods is now focusing on upscaling and increasing production capacity.

Team

Dr. Robin Simsa

CEO and Co-Founder

Robin had a keen interest in fish and meat substitutes from an early age and completed his PhD in the field of cell-based meat at the University of Gothenburg and TUFTS University in Boston. His scientific and analytical approach brings a wealth of technical expertise to his senior role as CEO.

Manuel Lachmayr

CTO and Co-Founder

Manuel is part of the founding team and joined Revo Foods in 2021. As a proven expert in 3D printing, he currently leads Revo Foods' team of ten mechanical and software engineers. Before joining Revo Foods, Manuel managed a research institute for 3D printing in Vienna and specialised in 3D printing during his training.

Niccolo Galizzi

Head of Food-Tech

Niccolo has been with Revo Foods since 2022. Due to his extensive know-how in the field of flavours for fish and meat alternatives, Revo Foods was able to recruit Niccolo from the large flavour house Firmenich, where Niccolo was significantly involved in the development of plant-based meat alternatives for over 5 years. Niccolo studied food technology at one of the most renowned universities for food technology – the Wageningen University in the Netherlands. He then worked for several years at the major flavour manufacturer Firmenich and was subsequently responsible for plant-based alternatives at ADM.

Juliette Sander

COO

Juliette Sander has a wealth of experience in operations at GoStudent, and has played a leading role in helping the start-up to develop processes and structures from 15 to 1700 employees. As COO (and a graduate food technologist), she therefore combines the ideal technical and process-orientated experience to support Revo Foods in its further growth in the area of operations.

Morenike Farag

Head of Marketing

Nike previously implemented communication measures in advertising and consulting and has worked with international corporations. She now holds a leading role in developing the marketing and branding strategies for Revo Foods. Over the past two years, she has been involved in several major PR campaigns and has co-developed the packaging and communication design for Revo Foods.

Emilio Aragón

Head of Sales

After studying environmental sciences, Emilio took over the business development and sales division of a Spanish distributor in Vienna. Due to his achievements, Emilio was then promoted to General Manager for the retail sector in Austria. His passion for environmental issues then led him to be one of the first employees to join Revo Foods and build up the Business & Sales division.

David Petuzzi

CFO

David studied accounting at the University of Maastricht. David gained his first professional experience in tax consultancy and accounting for SMEs. David then joined DS Smith, a global recycling and packaging manufacturer, where he gained extensive experience in financial planning, financial analysis, and consolidation of subsidiaries. In summer 2022 he joined Revo Foods.

 

Innovation


„3D Structuring allows us to completely rethink food production and place people's individual needs at the centre of the technology."

Robin Simsa, CEO of Revo Foods GmbH

 



Revo Foods is developing new technologies for additive food production
(3D food printing). Various points are relevant for this:

Integration of 2 different material phases: 
In our case, the integration of a fat component with plant-based protein fibres is essential and cannot yet be reproduced by any other technology.

High scaling thanks to a continuous process: 
We have developed a new 3D extrusion print head design (2 patents) which for the first time allows the continuous extrusion of a viscous material stream (e.g. plant-based proteins). Another patent covers our multi-nozzle systems (1 patent), which allow high volumes of material to be produced simultaneously. Both new technology developments are essential for the low-cost, high-volume production of food products.

Revo Foods has also come up with an innovation in material development.
Together with the Swedish partner "Mycorena", a new mycoprotein (fungal protein) was developed that has a high fibre content, which is created by the 3D printing process. This makes the product ideal for processing, and the precise adaptation to our process is another IP feature. Mycoprotein has a complete amino acid profile and high bioavailability, is therefore also highly nutritious and partly responsible for the NutriScore "A" in our first product (salmon filet).



Our new 3D extrusion technology enables flexible industrial production of high-quality products with complex shapes and structures. For the first time, plant-based fat can be seamlessly integrated into plant-based protein fibres. This enables a new generation of food creations such as authentic fish alternatives and can be applied in many other areas of the entire food industry.

The continuous production process in combination with our multi-nozzle system (patent pending) makes it possible for the first time to industrialise 3D food printing and bring it to the mass market. This enables exciting new food products (meat alternatives but also other products with “impossible” shapes/forms) and can help food companies to bring unique new innovations to consumers

 

 



 

THE FILET – Inspired by Salmon


We produce plant-based fish and meat alternatives using our specially developed industrial 3D food printing process. Our salmon filet "THE FILET" is the first 3D-printed food that is already available in supermarkets. It is based on fungal protein, also known as mycoprotein. Mycoprotein has the advantage that it can be processed at a low temperature and with little pressure in the mixing process, which means less processing is required and more nutritional values are retained. To achieve a high omega-3 content, plant oils and algae extracts are added. Compared to conventional salmon, the product contains no antiobiotics, microplastics or heavy metals and has sufficient micronutrients thanks to the addition of various vitamins. Thanks to the 3D printing process, the product has significantly better functionality than products manufactured using conventional extrusion technology (such as fibre, appearance or fat content in the product even after heating) - a major advantage of our new technology.




The salmon filet is the world's first 3D product in the supermarket. The strong demand from supermarkets and positive customer feedback confirms our direction. The next step is to scale up the technology to satisfy the demand of consumers. After scaling up to an industrial process, Revo Foods' goal is to licence out the technology and new product variations such as a plant-based beef steak or a tuna filet to third-party suppliers.  
 

Unique Selling Propositions

Revo Foods has not only successfully optimized the 3D structuring process with sustainable ingredients such as mycoprotein, but also enables continuous production. This is a major breakthrough, as 3D printing was previously considered "not scalable" and previous companies have not gone beyond batch production. With our technology, we have taken the decisive step for the mass market and are now ready for the next scaling step, which will enable us to achieve a monthly output of 8 tonnes of fish alternative, thus supplying more supermarkets and reducing production costs. 

What makes the technology special?

  1. Flexible structure of final product → Products such as plant-based filets or steaks can be produced authentically for the first time
  2. Combination of 2 different materials → Innovation potential for unique products with complex functionality
  3. Modular system → Adaptable for different production volumes/systems
  4. Digital system → No hardware changes are required to change the product shape/structure as with conventional systems
  5. High throughput/production volume

 

In addition, compared to the competition in the plant-based fish and meat industry, we have developed a proprietary technology that makes it possible to produce unique products and achieve differentiated texture, quality and flavour. This will enable Revo Foods to differentiate itself from the rest of the market in the medium to long term and thus transfer its market leadership from the initial Austrian market to the remaining markets.

 

Until now: batch production.                                Revo Foods: continuous process.

 

Business model and distribution

Our business model is currently the sale of plant-based fish alternatives to food retailers and the catering trade. We currently have two distribution channels. The first distribution channel is the direct sale of products to supermarkets, wholesalers and catering businesses. The products are transported chilled from the warehouse to the customer.

The second distribution channel involves distribution partners within the EU, who receive the products from Revo Foods and take care of the intermediate storage until delivery to the supermarket, wholesaler or food service. The distribution partners support us in listing our products in supermarkets and wholesalers, thereby expanding our distribution network.

Having achieved industrial scaling with 3D food printing, our technology is our greatest asset, as new types of complex shapes and structures can be mass-produced. To address this business segment, we will our business activities to include the sale and licensing of the 3D production technology. We are currently engaged in early pilot-projects with larger customers, and will start the B2B sales process of our technology after realizing our next upsclaling step. This is planned for early 2026.



 

Market and target group

B2C flexitarians and vegetarians in the DACH region and European markets.

Our current market and target group is the B2C business, where we particularly address flexitarians. One in three European consumers now describe themselves as flexitarians. In Germany, this figure is as high as 42%.

Our high-quality plant-based fish alternatives are well positioned to appeal to this target group. Revo Foods products offer high nutritional value (omega-3, protein) and authentic flavour and texture - essential for the flexitarian market. Many people are interested in meat/fish alternatives, but repurchase rates are still too low due to product quality. With our new technology, we are creating added value to convince more traditional meat/fish consumers of plant-based products.

In future, we will also licence out our technology for other innovative products (such as plant-based alternatives to steak, etc.) (B2B).

 


 

Objectives and use of capital

The financing will make a significant contribution to the further development and upscaling of the production process to 8 tonnes/month. This scaling step will enable us to achieve profitability with the salmon filet. Reaching this milestone will enable us to initiate the next scaling steps to achieve industrial production of 60 tonnes/month and thus finalise our technology for the B2B food market. These scaling steps will enable us to achieve a monthly turnover of € 180,000 in the first step and a monthly turnover of € 1,100,000 in the next scaling step.

One third of the capital will be invested in the further development and upscaling of the machines. Another third is invested in the innovative strength of the staff. The remaining capital will be used for operating expenses such as rent, laboratory tests, certifications, consulting and working capital.

Previous successes

  • Early 2021
    pre-seed round 410,000€
     
  • November 2021
    Listing in the first supermarket - Billa (REWE)
     
  • End of 2021
    seed round 900,000€ and 1,5m€ funding
     
  • September 2022
    first month > €100,000 turnover
    listing of three new products at Billa Plus (REWE)
     
  • 2022 financial year
    900,000€ turnover
     
  • June 2023
    Top 6 in the X-Prize Challenge from over 400 submissions,
    $400,000 in prize money and the chance to win a further $7m in July 2024
     
  • September 2023
    Publication and listing of the world's first 3D-printed food product - the salmon filet. Sold out within 48 hours

Top reasons for an investment

  • Technology leadership in industrial 3D food printing.
     
  • High problem-solving potential by combating overfishing
    and high customer benefit through authentic, high-quality and healthy meat alternatives.
     
  • Business model with an attractive risk/return profile in large growth markets.
     
  • Perfect timing for an investment - technology is already developed
    and first product on the market: funding flows into upscaling, which drives up the company value.
     
  • Investment with real impact: our products contribute to combating
    overfishing and more sustainable consumption.
     
  • High exit potential thanks to the unique technology and 3 patents.
     
  • Experienced founders, management team and technology team.
     
  • Established distribution network and strong brand.
     
  • Market leader in the initial market
    we are the first in the world to bring a 3D printed product to the supermarket.


Media coverage



In 2023, Revo Foods has managed to attract worldwide attention. 
„THE FILET" was featured on all continents (except the Arctic) in renowned media, more than 1060 times (within 5 weeks), including CNN, New York Post, The Times, DIE ZEIT and many others.


A few examples:

  • NEW YORK POST
    "Does 3D-printed ‘salmon’ taste like the real thing? Supermarket shoppers in one country are about to find out"
     
  • designboom
    "3D-printed salmon with fungi and multivitamins takes vegan fish filet to industrial level"
     
  • NYbreaking
    "Nothing Fishy About It! Lab-Grown, 3D-Printed SALMON Goes On Supermarket Shelves For The First Time"
     
  • ZEIT
    "Lachs aus dem 3-D-Drucker: Gedruckt, nicht geangelt"
     
  • Die Presse
    "Wiener Lachs-Ersatz aus dem 3D-Drucker kommt in den Supermarkt"
     

Further media successes:

  • Our total number of social media followers currently stands at over 23000.
  • Since 2020, Revo Foods has already been covered by international media, including the Galileo team, Italian and Japanese television.
  • Revo Foods was nominated for several advertising awards in the top 5 for low-budget guerrilla marketing campaigns (in Austria) in 2023 (VAMP Award 2023, Gewista OOH Award 2023).


     

FAQ

Q: Are these products also healthy?

A: Absolutely. THE FILET has NutriScore "A" and a high Omega3 and protein content. It also contains no harmful substances or microplastics like conventional fish.

 

Q: What exactly is mycoprotein and where do you get it from?

A: Mycoprotein is a fungal protein that is obtained in a fermentation process. The fungal culture is grown in a nutrient medium (you can imagine it like the nutrients in the forest soil). We obtain our mycoprotein from the Swedish manufacturer "Mycorena", as we have jointly received an EU grant of EUR 1.5 million for the co-operative development of a new mycoprotein with better properties.

 

Q: What other products can be produced with this technology?

A: We initially focussed on salmon as this is one of the most eaten fish in the world. In the future, however, tuna and various white fish are also possible. In the long term, we also want to offer meat alternatives, such as beef steak.

 

Q: Is the technology also suitable for other food processes?

A: Yes, we can process a variety of viscous raw materials in our process, such as dough, baked goods or purees. We have already received enquiries from large food producers in this segment, which is why, after successful scaling, our technology can be licensed out for other applications to further increase sales.

 

Q: How do you measure your impact?

A: Together with a master’s student, we looked at the impact of our early production, which emits around 75% less CO2 and uses up to 60% less energy than conventional fish. We also measure how many fish we have already saved, assuming that our products were bought instead of conventional fish. That's over 20,000 fish by November 2023.

 

Q: How do you reach your customers?

A: We use a variety of marketing methods, and our social media channels are among the most followed pages of companies offering plant-based fish alternatives. You can get an impression on Instagram or our Youtube channel.

 

Q: You can win USD 7 million at the XPRIZE next July. What are your chances?

A: Only us and 5 other teams are still in the running for the prize. We are the only team that has actually launched a product on the market. We think our chances of winning first place (or at least being in the top 3) are very high.

 

Q: 3D printing is only suitable for prototypes, but too slow for food production, isn't it?

A: One of the main development points of our work is to establish a continuous industrial process in 3D food printing. Our systems are more comparable to dosing systems that have long been used in the food industry (e.g. for chocolate production), but with more complex extrusion systems and 3D kinematics during the process. By using multi-nozzle systems and combining several extrusion systems, we can achieve volumes that are almost identical to conventional extrusion systems for the same price, but can produce more complex shapes and textures.

 

Q: How does Revo differ from the competition?

A: Our unique production technology allows us to produce plant-based alternatives that stand out from the competition in terms of taste and texture.

 

Q: What development steps are being taken to scale up?

A: Several steps are being taken to increase production output. The biggest impact is the development of our multi-nozzle system, which makes it possible to produce several filets at once. In addition, the production process software is optimized so that 30% less time is required per filet in the next scaling step.

 

Q: How were Revo's first products produced?

A: Our first products were produced by a co-producer using traditional technologies. The aim was to test our recipes and build our distribution network and brand.

 

Q: What are the nutritional values of the products?

A: The filet has a protein content of 9.5% and a high proportion of omega 3 fatty acids and fibre, as well as hardly any sugar and salt. This is why we are allowed to market the product with the Nutri-score "A".

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