Investment & Fund Management

Neggst, a Berlin-based company co-founded by Veronica Garcia-Arteaga, is innovating in the food and beverage sector by developing plant-based egg alternatives. The company aims to significantly reduce the environmental impact of egg production, targeting an 80% reduction in water usage, as traditional egg production requires approximately 200 liters of water per egg. The market for chicken eggs is valued at USD 240 billion, and even capturing 1% of this market represents a substantial opportunity for Neggst.

The company is primarily focused on the food service industry, including hotels, restaurants, and caterers, with plans to expand into retail. Their initial product line, set to launch in 2024, includes egg patties and poached eggs, designed to meet consumer demand for vegan alternatives that are appealing in taste, appearance, and aroma.

To support their research and development efforts, Neggst received equity investment from the Green Generation Fund, a venture capital fund backed by the European Investment Fund (EIF) under the InvestEU programme. This funding has been crucial for transitioning from research to a commercial business model. Veronica leads a team of 11, including seven scientists and engineers, navigating the challenges of entrepreneurship, particularly as a woman in a male-dominated industry. She has noted the difficulties in being taken seriously in meetings and has found it easier to connect with female investors.