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Investors / Sweden / Mudcake

Mudcake

Micro VC · Sweden · Europe

mudcake.com

Mudcake is a microfund run by ex-founders that invests in pre-seed startups. It backs companies using science and technology to reshape the broader food system, including software, biotech and climate tech.

Invests inAI & Machine LearningFood & Agriculture

In its own wordsfood techbiotechclimate techsoftwarealternative proteinagriculture

Your fit with Mudcake

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27portfolio companies
3funding rounds on record
2rounds, last 12 months
$5M to $20Mtypical round it comes in at
Seedmost frequent entry
EuVECA fund registered with FI, no longer activelatest fund

Mudcake lists 27 checked portfolio companies on its own site and is named in 3 funding rounds. Its most frequent entry is Seed, 100% of the companies with a known first round. Its largest themes are AI & Machine Learning (48%), Food & Agriculture (33%) and Industrial & Manufacturing (8%). 31% of its companies are based in United States. It invests most often alongside Lever VC, Purple Orange Ventures and AgFunder.

Counts come from funding rounds that name Mudcake, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.

Round figures show recent activity, not Mudcake's whole history. Rounds on record name 3 companies; its own site lists 27. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.

Entry stage

share of companies by the stage of its first round
Show as a table
Share of companies by the stage of the firm's first round
Value
Pre-seed0%
Seed100%
Series A0%
Series B0%
Growth0%

Activity by year

rounds it joined, last 10 years
Show as a table
Funding rounds per year
TotalRounds it led
'1700
'1800
'1900
'2000
'2100
'2200
'2300
'2400
'2510
'2620

Investor profile

percentile among all firms
Portfolio size: 27 companiesRecent activity: 2 rounds in 12 monthsEarly stage: 100% of entries at pre-seed or seedEvidence: 11% of companies confirmed by a roundSector focus: 48% in its largest sectorReach: 7 countriesPortfolio size64th pctRecent activity69th pctEarly stage100th pctEvidence80th pctSector focus82th pctReach88th pct
This firmMedian of all firms
Show as a table
Mudcake compared with all firms
MeasurePercentile of all firmsValue
Portfolio size64th27 companies
Recent activity69th2 rounds in 12 months
Early stage100th100% of entries at pre-seed or seed
Evidence80th11% of companies confirmed by a round
Sector focus82th48% in its largest sector
Reach88th7 countries

Invests most often with

firms sharing its portfolio companies
Show as a table
Co-investors
Share
Lever VC7
Purple Orange Ventures3
AgFunder2
BGF2
Better Ventures2
Cavallo Ventures2
Entrepreneurs First2
Feast Ventures2

All co-investors

Its portfolio companies

where they are based, and what their own sites show

Headquarters

Site status

  • Site answers2696%
  • No longer answers00%
  • Points to another company14%
  • Parked or sold domain00%

A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.

Investment themes

share of its checked companies

This firmAll checked companies

Show as a table
Investment themes
This firmAll checked companies
AI & Machine Learning48%18%
Food & Agriculture33%3%
Industrial & Manufacturing8%7%
Healthcare & Biotech5%15%
Climate & Energy5%1%
Consumer3%3%

Compare Mudcake head to head

portfolio size, rounds, entry stages, themes and the companies both back

Three or more firms at once: portfolio overlap.

Funds

from public registers and its site
Mudcake Fund II ABEuVECA fund registered with FI, no longer active, ESMA register

Recent portfolio activity

when companies last raised with Mudcake
DateCompanyStage
6 Oct 2026hexafarmshexafarms.comSeed
11 Mar 2026Amateraamatera.bioSeed
10 Sept 2025Messiummessium.co.ukSeed

Round details for Mudcake

Amounts, full round histories and every co-investor in Mudcake's rounds are on Fundup AI. VCinfo covers investors and their portfolios.

See rounds on Fundup AI →

Portfolio

27 companies checked against their own sites
CompanyWhat it doesThemesFirst round with itEvidence
AgroLeagueagro-league.comAgroLeague provides a community and resources for agronomists and farmers to share knowledge and advice on agricultural practices
AI & Machine LearningAI & Machine Learning
Portfolio page
Agteriaagteria.com
Portfolio page
Amateraamatera.bio · FranceAmatera develops climate resilient crops using cell culture, automation, and machine learning
AI & Machine LearningAI & Machine Learning
Mar 2026SeedPage + round
Arboreaarborea.ioArborea captures and converts carbon dioxide into net-zero protein and other highly functional ingredients without needing fertile land
AI & Machine LearningAI & Machine Learning
Portfolio page
BettaFishbettafish.co · GermanyBettaFish produces plant-based seafood alternatives from seaweed and plant proteins.
Food & Agriculture
Portfolio page
Blackbird Foodsblackbirdfoods.com · United StatesBlackbird Foods produces and sells plant-based meat alternatives, such as seitan and tofu products.
Food & Agriculture
Portfolio page
Bluu Biosciencebluu.bio · GermanyBLUU develops marine ingredients through controlled biomanufacturing
Healthcare & Biotech
Portfolio page
Bond Per Foodsbondpets.com · United StatesBond Pet Foods produces meat protein for the pet food industry using a brewing process
Food & AgricultureConsumer
Portfolio page
Olombriaflypollination.comOlombria provides an integrated pest and pollinator management platform for crops, using native hoverflies, lures, and field data.
AI & Machine LearningAI & Machine Learning
Portfolio page
Hearteehearteefoods.comHeartee cultivates and delivers gourmet mushroom varieties to customers
AI & Machine LearningFood & Agriculture
Portfolio page
hexafarmshexafarms.com · GermanyThe company provides AI-powered hardware and software for crop monitoring and management
AI & Machine LearningAI & Machine Learning
Oct 2026SeedPage + round
InPlanetinplanet.earth · BrazilInPlanet develops Enhanced Rock Weathering projects in Brazil that deliver durable carbon removal while building healthier, more resilient soils.
AI & Machine LearningAI & Machine Learning
Portfolio page
Koppiekoppie.eu · BelgiumKoppie produces a sustainable alternative to coffee made from fermented and roasted peas
Food & Agriculture
Portfolio page
Messiummessium.co.uk · United KingdomMessium provides precision nitrogen management for crops using satellite and AI technology to determine exact nitrogen levels and application recommendations.
AI & Machine LearningAI & Machine Learning
Sept 2025SeedPage + round
microTERRAmicroterra.commicroTERRA develops functional ingredients that transform the taste and texture of food into deeper, more complex, and memorable sensory experiences.
Food & Agriculture
Portfolio page
Mission Barnsmissionbarns.comMission Barns produces meat products using cultivated pork and plant protein.
Food & Agriculture
Portfolio page
Nilusnilus.co
Portfolio page
NuCicernucicer.com · United StatesNuCicer designs and breeds crops, such as chickpeas, with improved nutritional and taste properties using advanced predictive breeding and natural diversity.
AI & Machine LearningAI & Machine Learning
Portfolio page
Nutropynutropy.comNutropy produces milk proteins for crafting next-generation animal-free cheese and dairy products
Food & AgricultureClimate & Energy
Portfolio page
OlsAroolsaro.com · SwedenOlsAro offers a solution to streamline trait discovery and variety development for multiple cereal crops
AI & Machine LearningAI & Machine Learning
Portfolio page

About this data

site last read 5 Nov 2026
The homepage of Mudcake, as last read
mudcake.com as VCinfo last read it
Site
mudcake.com
Last read
5 Nov 2026
Watching since
6 Nov 2026
Rounds since
10 Sept 2025
Companies checked
27

Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.

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