DLA Piper has advised REWE Group on its Series A investment in Berlin-based foodtech company Project Eaden. This strategic investment further underscores REWE Group’s commitment to advancing food-tech innovations in Germany.
As part of the Series A Financing Round, Project Eaden has secured EUR15 million from a mix of existing and new investors. Notable further participants include existing shareholders Creandum and Food Labs as well as new investors such as Planet A, Deep Tech & Climate Fonds, Happiness Capital and AgriFoodTech Venture Alliance. The funds will be used to accelerate Project Eaden’s development and facilitate the pan-European launch of its first products to market.
Project Eaden specializes in the production of plant-based protein fibers that replicate the texture and appearance of animal meat. Drawing inspiration from industries such as textiles, aerospace, and automotive, the company’s technology involves creating ultra-thin protein fibers. With its proprietary method, Project Eaden offers a scalable solution for producing realistic, plant-based meat alternatives.
The DLA Piper team advising REWE Group was jointly led by partner Dr Moritz von Hesberg and senior associate Rune Jelte Weltz (both Corporate/M&A, Hamburg).
The REWE Group’s in-house legal team was led by Dr Ulrich Fleischer (Senior Legal Counsel M&A and Financing) and Christiane Fabel-Houf (Senior Legal Counsel M&A and Financing). The commercial team driving the project was headed by Jonathan Kalanithy (Project Manager Mergers & Acquisitions), Danijel Lipovac (Head of M&A) and Clément Tischer (Head of FoodTech).
The cooperatively organized REWE Group is one of Germany’s and Europe’s leading trade and tourism companies. In 2023, REWE Group reported total external sales of approximately EUR 92.3 billion. Founded in 1927, the group operates in 21 European countries and employs around 380,000 people. REWE Group’s investment in Project Eaden marks another step in its ongoing efforts to support innovative ventures, following previous investments in the food-tech industry.
