In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs.
Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies.
Episode 08: Frederik Jensen of Nutrumami
In this episode, Alex talks to Frederik Jensen, founder and CEO of Nutrumami who creates multifunctional plant proteins to impact better taste, texture and nutrition through synergistic cross fermentation. Having recently raised €475k, Frederik highlights the importance of adaptability, relationship-building, and strategic pivots in the startup landscape and how their focus on execution and leveraging existing manufacturing infrastructure positions them well for growth in the competitive plant-based ingredient market.
Key Facts Nutrumami:
- Goal: To create multi-functional plant proteins to impact taste, texture, and nutrition.
- Recently raised €475k
- Cost Capital and Planetary Impact Ventures as lead investors
Link to Spotify:
Alex’ Top Findings:
- Engaging in Continuous Conversations: One of the most beneficial strategies Nutramami employed was having a multitude of conversations. Each interaction with potential investors, partners, or stakeholders provided valuable feedback and insights, allowing them to refine their pitch, strategy, and business model iteratively. It was akin to running multiple tests where each test’s outcome informed the next steps, ensuring we continuously evolved and improved.
- Building Strong Relationships: Another correct move was focusing on building and nurturing relationships. Instead of viewing each meeting as a mere transaction, Nutramami aimed to foster deeper connections. This approach not only facilitated introductions to key players like Cost Capital but also established a network of advocates and supporters who believed in our mission and were willing to help us succeed.
- Path to Market and Profitability. Avoiding complex regulatory pathways can speed up market entry and reduce costs. Nutramami benefited from not requiring regulatory approval for their plant protein. Utilizing existing manufacturing capabilities with a contract manufacturer, Nutramami aims for a faster path to market and profitability. The focus is on execution and market entry rather than extensive patenting, though they hold some patents.
- Preparedness and Strategy. Having a robust business plan, prototype, and team were essential for the pre-seed round. Every conversation and meeting is an opportunity to learn and refine the business strategy. Early feedback and testing are critical for progress.
- Identifying Market Gaps. Nutramami’s founders leveraged their deep understanding of product formulation and market needs to identify gaps in the plant-based ingredient market. They focused on creating a new category of ingredients that offer a better starting foundation for product development.
Find parts one, two, three, four, five, six and seven by clicking on the links.
