Pea protein producer Novo Farina secures over £3m in funding

UK pea ingredients producer Novo Farina has raised more than £3 million in an investment round to fund the next stage of its development.

Based in Norfolk, Novo Farina uses whole yellow peas to produce sustainable and ‘highly nutritious’ ingredients that offer an alternative to meat- and wheat-based options.

The company’s lead product Novo-Tex is a texturised pea protein that has been developed for use in meat alternative products. Other offerings include pea flour and pea crumb.

In 2020, Novo Farina launched its first retail product: baked pea-based curls called Simpleas Snacks.

The company’s recent funding round was led by British venture capital investor and author Richard Koch, with participation from other private investors.

Novo Farina managing director, Chris Harrison, said: “We are absolutely delighted that investor confidence in Novo Farina means that we can increase production and relocate to bigger and better premises, giving us room for future expansion to keep up with the demand for our unique pea flour and protein products.”

Koch said: “I am delighted to invest in Novo Farina, which has a unique series of healthy and ecologically sound food products and which is a terrific pioneer and star business.”