Mö Foods has raised €2.4 million in a funding round led by Nordic Foodtech VC, backing the company’s ambition to make oat-based cheese alternatives a mainstream global staple. Founded in 2017, Mö develops plant-based cheeses made entirely from Finnish oats, using proprietary production technology designed to match dairy in taste, texture, and meltability while significantly reducing environmental impact. The fresh capital will be used to scale manufacturing, further develop its technology platform, and support international expansion across Europe, as demand grows for sustainable, high-performing alternatives that appeal not only to vegans, but to everyday cheese consumers.
Founded in 2017 by siblings Annamari Jukkola and Marjaana Vuorio, who grew up on a Finnish dairy farm, Mö Foods is positioning itself beyond the traditional vegan category. The company develops meltable and sliceable cheese alternatives made from locally grown Finnish oats, using a proprietary production process that enables full use of the oat grain, minimizing waste and reducing the product’s overall environmental footprint.
With the new funding, Mö plans to scale its production technology, expand its team, and prepare for international growth across Europe. The company is also advancing a licensing model aimed at enabling large European food producers to adopt its technology, accelerating category-wide adoption of oat-based cheese alternatives.
“Our goal at Mö has always been to create foods that reflect how people eat today: good food at a fair price, made responsibly,” said Annamari Jukkola, CEO and Co-Founder of Mö. “Growing up on a dairy farm gave us a respect for how cheese is made, and also for the value people place on it. We’re bringing that same quality and care to a new process, using oats to make something familiar, but lighter on resources. This funding helps us do that at scale.”
Mö’s approach comes as the plant-based cheese category faces mounting pressure to move beyond niche positioning. While traditional dairy remains one of the most resource-intensive food categories globally, Mö argues that oats — among the most sustainable crops in Nordic agriculture — offer a viable path forward. By focusing on minimal processing and a short ingredient list, the company aims to meet consumer expectations around clean labels as well as performance in cooking and everyday use.
According to Mika Kukkurainen, partner at Nordic Foodtech VC, Mö’s strength lies in its combination of food science, proprietary technology, and consumer-first product development.
“Mö is taking unique Finnish oats and their healthy properties to a completely new level,” said Mika Kukkurainen, partner at Nordic Foodtech VC. “Added-value products, with unique technology, are the exact kind of food knowledge that we want to support and scale internationally. Mö is setting the standard for the whole industry on how plant-based products should meet expectations in taste and experience – and how this expertise can be taken to international markets.”
The company’s commercial traction has already outpaced the wider category. In 2024, Mö reported 88% year-over-year retail sales growth, supported by new product launches and expanded distribution across major Finnish retail chains, including S-group, K-group, and Lidl Finland. The overall plant-based cheese segment in Finland grew by approximately 18% over the same period.
Beyond retail, Mö has received multiple industry recognitions, including Finnish Food Innovation of the Year 2024 and Best No-Goat Vegan Cheese 2024 for its Mö Chavre product, underscoring its focus on taste-led innovation rather than purely ethical positioning.
“This funding marks a turning point for Mö,” said Stefan Lindberg, Chairman of the Board at Mö Foods. “By combining deep food science with consumer understanding, Mö Foods has built a model that works at a time when most of the category is struggling to find one. Mö is showing that plant-based can be both premium and profitable.”
As Mö prepares for broader European expansion in 2026, the company is betting that oat-based cheese can move from alternative to default — reshaping how consumers, retailers, and manufacturers think about the future of cheese.
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Read the orginal article: https://arcticstartup.com/mo-foods-raises-e2-4-million/
