French plant-based producer SWAP Food, formerly known as Umiami, has been placed into judicial liquidation by the Paris Economic Activities Court. The company, which had raised more than €100 million since its founding in 2020, will continue operations until June 30, with an asset sale process expected to conclude by July 1, as reported by AgFunderNews.
The Paris-based company built its offer around a proprietary texturising platform capable of producing structured plant-based fillets without high heat or pressure. It acquired a production facility from Unilever in Duppigheim, Alsace in December 2022, but was ultimately unable to reach commercial scale despite the investment.