🇩🇰 REDUCED completes a second closing with ECBF, taking their series A round to a total of €8m
COPENHAGEN, Denmark, 30 August 2024 – REDUCED, the Copenhagen-based company known for its innovative and flavourful upcycled food ingredients, announces the successful completion of its second closing of its series A funding round, which now totals €8 million, with a significant new investment from the European Circular Bioeconomy Fund (ECBF).
This strategic boost comes at a crucial time as REDUCED continues to expand its presence in the DACH region and beyond, reinforcing its position in the food service and ingredient sector. REDUCED has achieved notable traction in the DACH market, driven by strategic partnerships with key distributors in the food service and ingredient industries. This includes collaborations with blending houses in the industry sector, and several high-profile Michelin Star restaurants in the food service segment, underscoring the company’s commitment to delivering high-quality, sustainable ingredients that meet the highest culinary standards.
The new investment from ECBF will significantly accelerate REDUCED’s market expansion efforts and further develop its innovative product range.
Since its founding in 2020 by William Anton Lauf Olsen and Emil Munck de Voss, REDUCED has led the way in using proprietary fermentation technology to transform upcycled side streams from the food and agriculture sectors into premium umami flavours. The company has invested in state-of-the-art production facilities in Copenhagen’s North Harbour and works closely with the University of Copenhagen to refine its processes. REDUCED’s products are distinguished by their complex, full flavours and versatile applications, catering to a wide array of needs in both the food service and ingredient industries. This approach not only lowers production costs but also cuts CO2 emissions by up to 80% compared to traditional savoury ingredients.
Emil Munck de Voss, Co-Founder & CEO of REDUCED, commented on the new funding: “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. This partnership will be instrumental in expanding our presence across the food service and ingredient sectors, and we eagerly anticipate the opportunities it will create for further growth and innovation.”
Mathias Brink Lorenz, Investment Director at ECBF commented; “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 investor and believe that our strong corporate network and LP base will be of great value add to their growth journey ahead.”
About REDUCED:
Founded in 2020, REDUCED is challenging the flavour industry, by creating intense natural flavour solutions from side streams and surplus produce from the food and agricultural industry. The Copenhagen-based company has developed unique fermentation processes, allowing the utilisation of various side streams to create intense natural flavour solutions. REDUCED’s mission is to deliver flavour solutions with low carbon impact by repurposing side streams and provide cost-effective, natural, and flavour-rich food ingredients.
For more information about REDUCED: reduced.dk
About European Circular Bioeconomy Fund (ECBF):
The European Circular Bioeconomy Fund (ECBF) is a private venture capital fund dedicated to advancing the bioeconomy and circular economy. Established by the European Commission, ECBF invests in pioneering European entrepreneurs driving the transition from a fossil-based to a bio-based economy. The fund focuses on later-stage companies with high potential for innovation, sustainable impact, and attractive returns. Founded in 2020 and managing €300 million, ECBF operates from Luxembourg and is managed by Hauck & Aufhäuser Funds Services S.A., with advisory from ECBF Management GmbH based in Germany.
For more information, visit www.ecbf.vc.
Originally published on 30 August by Reduced.
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