Barcelona-based alt meat startup Heura Foods has reached operational profitability in the first quarter of 2026 and is seeking partnerships whereby it would produce white label products for retailers and brands in markets where it does not directly compete.
Founded by Bernat Añaños and Marc Coloma in 2017, Heura has taken a disciplined approach over the past couple of years to prioritize profitability, “intentionally scaling back” in northern Europe and focusing efforts on faster-growing markets in southern Europe.
The company—which generated flat revenues of €38 million in 2024—did not share numbers for 2025, but said it had outperformed a contracting market in Spain, posting revenue growth in a category that declined 7% year-over-year.
“While the category declined overall, we are reversing the trend and gaining momentum within the market,” Añaños told AgFunderNews.
“In 2025, we launched five innovations, and two of them have already entered the top 10 best-selling SKUs in the category in Spain. That said, our Original Burger continues to show the most outstanding performance. It is generating 41 times more revenue per SKU than the category average, significantly outperforming the rest of the market.”
Moving forward, he said, the priority is to strengthen Heura’s leadership position in Spain and help return the category to growth. “At the same time, we continue to make sustainable progress in Portugal, Italy, and France with a winning product portfolio and disciplined market expansion.
“Our strategic focus [for Heura branded products] continues to be Southern Europe. That is also one of the reasons why we are opening our manufacturing capabilities and technology platform [through licensing opportunities] to partners in other geographies, including Northern Europe.
“The goal is to accelerate the transition by enabling more players to deliver products with proven success faster.”
Further reading:
US alt-meat slump continues, but plant protein gains traction in beverages – GFI
Heura bags $22.2m from EIB to expand plant-based tech platform, aims for profitability in Q4
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