Despite slowing down the momentum it had been building, Heura closes another year with notable progress. The plant-based protein company based in Barcelona reports that sales in Spain rose by 22 percent, claims to hold a 26 percent market share, and continues to expand rapidly on a global scale. In France, for example, sales nearly doubled.
In concrete terms, the company concluded 2023 with a business volume of 38.3 million euros, a figure that represents another 22 percent growth on a revenue stream that had been growing at nearly twice year after year. This deceleration in growth is a common phase for a company maturing beyond the startup sprint, and it aligns with the strategic shift the firm began implementing the previous year.
Up to that point, the organization had been fully focused on hypergrowth. Starting last year, in line with what financial markets were signaling, it redirected attention toward turning revenue into solid profitability. Notably, Heura recently closed a funding round of 40 million euros, which openly supports a path toward profitability by strengthening cash reserves to offset the losses tied to heavy investments in growth and innovation. Among the measures, the company had to reduce its workforce by about 10 percent the previous year.
On the technology front, Heura achieved a milestone in 2023 by patenting a system designed to produce plant-based meat and charcuterie that is healthier. This development opens the door to an entire new range of products that substitute animal-derived foods. A new licensing business line was launched to extend the reach of these innovations to other companies in the food sector.
“In a pivotal year for the plant-based food sector, we emerge as a leader in category development, enabling other firms to accelerate the protein transition by introducing a B2B licensing division. The goal is to scale our impact globally through innovative technologies,” stated Marc Coloma, chief executive and cofounder of Heura, in a press release accompanying the latest figures. Among the highlights, the company reports a 63 percent increase in international sales, with France leading the growth at an 88 percent rise in revenue.