Parma-based startup Dreamfarm has secured €5 million ($5.3 million) to develop its portfolio of plant-based cheeses.
Giampaolo Cagnin, the entrepreneur and founder of Italiana Ingredienti, Campus, and Hi-Food, along with Francesco Mutti, the owner and CEO of the tinned tomato producer Mutti, contributed to this investment.
Cagnin said, “We invested in the project because we believe that it [has the ability to revolutionise the sector], thanks to important innovations in the technological field and an attractive and very recognisable branding on the shelf.”
Dreamfarm has reported that a portion of the funding has been allocated for the construction of a production facility in Sala Baganza, Parma. This facility has been equipped with advanced technology designed to enhance the efficiency of the start-up’s patented production process.
After investing two years in research and development to create a patented technology for manufacturing their plant-based cheeses, Dreamfarm introduced their inaugural products in May. These offerings consist of a plant-based cheese spread and a vegan mozzarella alternative that is stored in a preservative liquid.
The plant-based mozzarella has received an ‘A’ Nutri-Score, signifying the highest possible rating on the European nutritional labeling scale.
Dreamfarm has outlined its intentions to utilize the remaining funding for the expansion of its distribution network both within Italy and internationally. Additionally, the start-up has committed to directing resources toward research and development to facilitate the expansion of its product range.
Its product offerings can be found at niche retailers in Italy and Barcelona.
Established in 2021, the company was co-founded by Maddalena Zanoni, who previously served as the head of Alpro and Provamel (both owned by Danone) in Italy, Greece, Cyprus, and Malta. Mattia Sandei, formerly an R&D researcher at the functional ingredients group Campus, also co-founded the company.
In April 2023, Giovanni Menozzi assumed the role of CEO, bringing his experience as an angel investor at Heroes, a developer of consumer brands.
According to his LinkedIn profile, Cagnin took on the role of chairman and angel investor in the company in April.
Speaking on the start-up’s portfolio and future plans, Menozzi said, “The Dreamfarm alternative to mozzarella is an innovative product, with less than 1% saturated fats and which is therefore increasingly aimed at that large segment of consumers [who are] attentive to aspects related to sustainability and nutritional profile but who do not want to [give] up the goodness of a typically Italian product.
“The [plant-based cheese] sector is growing rapidly and we are convinced that we can have our say on a global level with the type of products we have and will continue to develop.”
