Mö Foods, a Finnish company developing oat-based cheese alternatives, has raised €2.4 million in funding led by Nordic Foodtech VC to expand its proprietary production technology and support international rollout as demand grows for tasty, sustainable plant-based foods.
Founded in 2017 by sisters Annamari Jukkola and Marjaana Vuorio, Mö Foods combines Nordic design principles with food innovation to create cheese alternatives made from locally grown Finnish oats. The company uses a proprietary process that matches dairy cheese in flavour, texture and melting performance while keeping the ingredient list short and minimally processed.
Mö’s range includes products that melt and slice like conventional cheese. These are available in major Nordic retail chains and are being prepared for wider distribution across Europe.
Sustainability at the core
Cheese production is one of the more resource-intensive sectors in the food system. Mö Foods believes that oats can offer a more sustainable solution. Its technology uses the whole oat, eliminating waste streams and reducing the carbon footprint and land use associated with traditional cheese.
The company’s approach has been recognised with industry accolades, including Finnish Food Innovation of the Year 2024 and Best No-Goat Vegan Cheese 2024 for its Mö Chavre.
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Meeting modern consumer expectations
As plant-based foods move beyond niche markets, consumers increasingly expect alternatives that deliver on taste, texture and everyday performance. Mö’s products are designed to meet these expectations while remaining competitively priced and approachable in daily diets.
According to the company, this funding will help scale production, enhance the technology platform, and prepare for entry into international markets where demand for plant-based alternatives continues to rise.
Investor perspective
Mika Kukkurainen, Partner at Nordic Foodtech VC, said the firm backed Mö because it combines unique agricultural inputs with proprietary technology to create added-value products that can scale internationally. He described the company’s approach as setting a new standard for how plant-based products should perform in terms of taste and overall eating experience.
Commercial traction and category growth
Mö’s growth has outpaced the broader plant-based cheese category in Finland, which expanded around 18% last year. In 2024, Mö reported 88% year-over-year retail sales growth driven by new products, expanded shelf space and strong sell-through at major chains including S Group, K Group and Lidl Finland.
The company is also preparing to license its production technology to major European food manufacturers as a way to accelerate category-wide adoption.
About Mö Foods
Mö Foods develops oat-based cheese alternatives that combine sustainable ingredients with performance that rivals traditional dairy cheese. Using proprietary production technology and locally sourced Finnish oats, the company aims to make plant-based cheeses that appeal to all eaters and compete in mainstream markets.
