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By Agroempresario.com
Despite declining sales in many plant-based meat markets, French startup NxtFood, known for its ACCRO brand, is defying global trends. The company recently closed a €49 million ($58 million) funding round led by both existing and new investors. This capital will be used to triple production capacity, scale up research and development in high moisture extrusion, and grow retail and foodservice sales across France and Europe. The ultimate goal: reach profitability within 12 to 18 months.
Founded in 2019, NxtFood is a fast-rising player in the plant-based protein industry. Its strategy focuses on locally sourced ingredients, nutritional transparency, and operational efficiency—factors that attracted serious investor attention, even amid a cooling global funding climate for meat alternatives.
While other plant-based companies report plateauing or shrinking revenues, NxtFood has posted explosive growth. CEO Renaud Saïsset revealed:
“Our growth has been strong, but there's still a lot to accomplish,” said Saïsset. He emphasized that economies of scale and improved production margins will be critical to hitting profitability targets. The capital injection will support the expansion of the company’s Vitry-en-Artois facility to 12,000 square meters, improving efficiency, yield, and overall manufacturing capacity.
The French plant-based meat market is still growing at a double-digit rate, unlike more mature markets like the US or UK where consumer interest has leveled off. According to Saïsset, French retailers and foodservice operators are increasingly investing in plant-based offerings.
“Retailers are launching private labels, which presents a huge co-manufacturing opportunity for us,” he noted. “They are excited and dedicating more shelf space, advertising, and promotions to the category.”
Currently, most plant-based products are merchandised in the chilled prepared foods section, but experimentation is ongoing to determine better placements. Saïsset sees this as an opportunity for brand visibility and consumer discovery.
Unlike many alt-meat startups that focused heavily on mimicking beef burgers or chicken nuggets, NxtFood has taken a broad portfolio approach. Its 20+ products cover alt chicken, beef, and pork and are available in 10,000+ foodservice outlets and major retailers.
Innovation is also central to the company’s R&D investments. With a focus on clean labels, short ingredient lists, and high nutritional value, ACCRO products align with evolving consumer preferences.
“Our products are rich in protein, low in saturated fat, and high in fiber,” said Saïsset. “They also score green across the board on Nutri-Score, which is increasingly important for European consumers.”
NxtFood's dual-market strategy includes a heavy push in foodservice, including QSRs (Quick Service Restaurants), commercial dining, and even school canteens.
“Foodservice is a great entry point,” said Saïsset. “When people try our products while eating out, they’re more likely to buy them later at retail.”
In schools, the company has found success replacing traditional plant-based meals, which often led to high food waste. “Our newer generation of products has significantly reduced waste, performing on par with conventional meat,” he added.
The funding round includes Creadev and Roquette Ventures, returning investors who reaffirmed their confidence in the startup, as well as new participants like Singapore-based Clay Capital and IRD Invest.
Clay Capital’s managing partner, Matthieu Vermersch, explained why the firm chose NxtFood as its first investment in plant-based meat:
“We’ve been cautious, but NxtFood shows the right combination of product quality, strategic direction, and operational excellence at scale—elements rarely found in this sector.”
Saïsset acknowledges that investor enthusiasm for plant-based startups has cooled globally. However, he believes the market is merely adjusting to more realistic expectations.
“In France, the market is younger and less saturated. We can learn from what happened elsewhere,” he said. “Innovation—not just more brands—is what will drive long-term success.”
What’s Next?
With fresh capital, a growing market, and a scalable production platform, NxtFood is positioning itself to become a European leader in plant-based meat. Its focus on efficiency, nutrition, sustainability, and product-market fit may give it an edge as the global plant-based industry matures.
For now, all eyes are on Vitry-en-Artois, where the company’s ambitious expansion is already underway.
