Eighth Day Foods Closes Seed Round In Two Days After Raising $1 Million For Lupreme Protein

Australia’s Eighth Day Foods has announced a successful seed funding round with investment targets met within two days to continue the development of a lupin-based protein source suitable for plant-based eaters. Eighth Day intends to act as a B2B supplier to other food manufacturers and commercial scale-up imminent.

The private round of new funding comes after Lupreme was declared the winner of the Best Protein category at the World Plant Based Food Awards 2021. Presentation was made in December, in New York and bolstered Eighth Day’s position ahead of opening its recent funding round.

A different type of protein

“We were thrilled when we won the World Plant Based Food Award in New York in December and to now be able to commercialise and scale faster with this funding is really exciting,” Roger Drew, co-founder of Eighth Day Foods and inventor of Lupreme said in a statement. “We are regularly being told that no other protein tastes as good while being as kind to the planet.”

Using unprocessed sweet lupins, the company has developed a high protein and fibre meat alternative that it says contributes to human health. Heart and bowel health have been specifically listed as benefits, alongside weight management. The finished protein source, Lupreme, can be supplied to manufacturers or used to create new products for them. The lupins allow for price parity with conventional meat and are a direct swap for more expensive plant proteins. 

Lupin protein is cited as a powerhouse of clean nutrition while being sustainable and regenerative. It costs less to transform than meat does to process and can be used to recreate a variety of flavour profiles.

The chef seal of approval

Scott Findlay, the former private chef to Sir Paul McCartney, has given his nod of approval to Lupreme. A specialist in plant-based recipe creation, he claims to have travelled the world, using different protein sources, but has yet to find anything that boasts the same versatility as Eighth Day’s offering. “It’s amazing and I can’t wait to be working more with it,” he said in a statement.

Rise of the lupins

Lupin beans are on a trajectory to become the next big protein source. Suitable for use in plant-based milk, meat, and everything in between, they are enjoying a moment right now. 

Hamburg’s Plant B has recently announced its new lupin-based liquid egg replacer. Taking 15 months to develop, the company claims to have perfectly mimicked the functionality and structure of conventional eggs, while saving 50 percent of the calories. Launch is expected in April this year.

Canada’s Nabati Foods is making a lupin-based egg replacer as well. Plant Eggz is slated for commercial launch this year and uses a combination of pea and lupin protein. Patents are being filed in Canada, the U.S. and Australia for the scrambled and omelet-suitable ingredient.

As early as 2020 it was revealed that PURIS, supplier of pea protein to Beyond Meat, was experimenting with lupins. The manufacturer developed a high protein and fibre flour using the beans, which was cited as being suitable for keto-friendly foods.