Stockholm-based foodtech startup VEAT raises funding from PolarVentures

This news was covered in the daily PRO newsletter on August 5.

VEAT, a startup from Stockholm that offers a system for selling plant-based foods via vending machines, has raised funding from PolarVentures, the VC arm of Swedish family-owned bread company Polarbröd, according to a press release.

Impact Loop reports that this investment amounts to SEK 5 million (€440K, $480K), and that it is part of a larger, yet-to-be-announced round.

VEAT was founded in 2019 by Andreas Karlsson, and launched in 2020. In 2021, the startup announced a SEK5M equity funding round from Pale Blue Dot and others.

For 2023, VEAT reported net revenue of SEK 4.8 million, up 71% year-over-year.