Prolupin Announces Growth Financing Round led by Capricorn Partners and Novax
Prolupin, the innovative plant-based protein company based in Grimmen, Germany, today announced the first closing of a double digit million growth financing round which will enable the company to expand its B2B and B2C offerings. After exceptional year-on-year growth since market introduction of its vegan Made with LUVE brand in 2015, the new financing will allow Prolupin to address the mass market for further growth and international expansion. The round was led by Capricorn Partners, from its Capricorn Sustainable Chemistry Fund and on behalf of Quest for Growth, an independent manager of private and quoted equity funds that invest in minority shareholding positions of innovative companies with technology as competitive advantage and Novax, the Stockholm-based growth investor powered by the Swedish Axel Johnson family, hallmarked by their long-term commitments and prominent holdings within the food space. The round was initiated by existing investors Munich Venture Partners and eCapital Entrepreneurial Partners, who joined and hired the investment bank Bryan, Garnier & Co as exclusive financial advisor on the transaction.
The Capricorn Partners and Novax investment brings a broad mix of technology expertise and trade network resources to Prolupin as it seeks to grow its plant-based offerings from lupines both B2B and B2C, including the non-dairy yoghurts, milks, ice creams and cream cheeses on the European market under the vegan Made with LUVE brand.
Malte Stampe, CEO of Prolupin commented “the addition of Capricorn and Novax to our team will enable us to accelerate the growth of Prolupin within B2B and B2C. The marketing and distribution we are now able to deploy over the coming years will put our unique Lupine Protein Isolate (LPI) as well as the vegan Made with LUVE brand center stage for customers and consumers aiming for a healthy, sustainable ingredient and lifestyle.”
Reiner Kuester, Chairman of the Supervisory Board said “we are delighted to welcome Capricorn and Novax and the expertise they bring to the board. This investment from industry experts further validates the potential of Prolupin to become a major player in plant-based foods.”