Mycoproteins gain funding momentum as The Protein Brewery raises $22 million Series A

November 12, 2020
Emerging Ecosystems in Agrifood and Health More...
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This Series A round was led by Novo Holdings, joined by Roquette Ventures and Unovis Asset Management, and will help the Dutch startup to focus on R&D as well as scale up production of its mycoprotein ingredient "Fermotein." It hopes to commercialize Fermotein upon regulatory approval by 2021 in the U.S. and 2022 in Europe. This investment comes on the heels of Meati Foods' $28 million Series A, indicating the growing momentum for mycoproteins. Mycoproteins are emerging as a contender in the plant-based meat space as they look to fill the existing gaps in terms of texture and nutrition profile, but factors like allergenicity, regulatory approval, and consumer sentiment will play a crucial role in their commercial success.

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