Estonian plant-based protein developer Thormi is raising €250K

Estonian foodtech Thormi, which is developing plant-based proteins, is raising €250K. The lead investor is Estonian business angel Jaak Ennuste. The funding round is still open.

Founded in 2021 by Peeter Tava and Marge Tava and registered as Vegestar, the startup works by the brand name Thormi. The company is developing technology for the production of meat substitutes. Its plant-based meat consists of pea and oat protein.

Thormi creates ready-made and low-prep meals using plant-based proteins. The startup's solutions include textured vegetable protein and high-moisture meat analoges, as well as products such as patties, sausages, nuggets, and pâtés, featuring flavors of beef, lamb, chicken, and fish.

According to the startup, it plans to expand into new markets by selling its technology rather than products. It can provide factories with technology, production equipment, and recipes, allowing them to start production six months after signing a contract.

Jaak Ennuste is a business angel, a founding member of EstBAN, and a member of EstBAN’s management board. He has made more than 20 angel investments. Ennuste is also a senior managing partner of the Estonian incubator Elevator Startups.