Finnish Food Factory, a contract manufacturer of plant-based dairy products, has secured €10M ($11.8M) in scale-up funding from Taaleri Bioindustry.
To support the expansion of Finland’s plant-based dairy industry, Finnish Food Factory has brought in €10M ($11.8M) in fresh funding.
The investment comes from Taaleri Bioindustry’s Fund I, and will help the contract manufacturing organisation expand its production capacity to drive long-term growth and broader market reach.
“We are pleased to begin our collaboration with Finnish Food Factory,” said Marjatta Rytömaa, managing director of Taaleri Bioindustry. “With its experienced team, the company has achieved successful growth in both local and international markets while consistently delivering reliable production and value-add to its global customers.”
Finnish Food Factory producing Fazer’s non-dairy range
Founded in 2021, Finnish Food Factory manufactures vegan dairy alternatives at its facility in Kouvola, which employs 55 people.
Its product range includes non-dairy milks, spoonable yoghurts, vegan creams, protein drinks, sauces, spreads, and meal replacement drinks. It mainly uses Finnish ingredients, with a key focus on oats and peas.
Finnish Food Factory leverages technology and production methods that ensure long shelf life without compromising the flavour or functionality of the products. Plus, it uses fully recyclable packaging.
The firm works in tandem with its clients to develop new products and manufacture them on the agreed terms, which include a range of well-established global and Nordic brands, including Fazer.
In July, Fazer finalised the transfer of its plant-based yoghurt production from its Koria factory to Finnish Food Factory. The move saw its entire Aito range reformulated with new recipes and packaging, which rolled out into stores in August.
“Finnish Food Factory’s modern production facility and advanced manufacturing methods enable us to produce oat-based gurts of even higher quality,” said Konrad von Otter, VP of plant-based drinks at Fazer Lifestyle Foods.
Funding success builds on sustained sales growth
“Finnish raw materials – particularly oats – have become a staple in consumers’ diets,” said Tuomas Kukkonen, chair of the board at Finnish Food Factory. “With many years of expertise in plant-based products, the cornerstone of our operations is efficient, innovative and reliable production. We are excited to welcome Taaleri Bioindustry as our growth partner,” he added.
Taaleri Bioindustry’s Fund I is an Article 9 fund, which covers products that have a primary sustainable investment objective. Through this, the firm is aiming to support the transition from cow’s milk to much more eco-friendly plant-based alternatives.
The dairy industry, for instance, accounts for around 4% of global emissions (twice as high as the aviation industry). The average oat milk, however, requires 92% less land and water, and generates 71% fewer emissions.
The investment is an outlier in an otherwise dire fundraising landscape for plant-based companies. In Q2 2025, this sector only raised $127M, and $100M of that came from a debt funding round for Beyond Meat.
But Finnish Food Factory’s successful raise is built on sustained sales growth. The manufacturer’s turnover has increased more than 11-fold since the start of the pandemic, from €1.2M in 2020 to €13.5M in 2024. It ascribed this to “a broad customer base” and its “ability to deliver high-quality, competitive products efficiently and on schedule”.
Its efforts to increase adoption of plant-based food will be bolstered by Finland’s new dietary guidelines, which encourage citizens to reduce red and processed meat intake and replace them with plant proteins. They further suggest consuming fortified non-dairy milk and replacing animal fats and tropical oils with plant-based spreads rich in unsaturated fat.
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