Technology revolutionizes food. New secret ingredient – fungus.
Fermented protein company Nature’s Fynd raised $350 million in a Series C round, more than tripling the funding it’s raised to date.
Nature’s Fynd will use the money to accelerate growth by expanding production capacity, developing partnerships, laying the foundation for global expansion and adding to its product portfolio. Earlier this year, the company offered a limited line of cream cheese and breakfast sausage on its website, and it also plans a limited rollout in stores later this year, as well as a nationwide launch and international expansion — including Asia — in 2022.
Nature’s Fynd is a Chicago-based startup growing protein-packed food from microbes with a fraction of the environmental footprint of meat or dairy.
In 2009, a team of researchers discovered a previously unknown microbe in the hot springs of Yellowstone National Park. Now, the fungus is the star ingredient in a new line of food products.
“It was very, very high in protein. And it’s actually a very exciting protein because it’s a complete protein,” says Thomas Jonas, CEO of Nature’s Fynd. “There are really not that many sources of complete protein out there.”
Jonas’s company developed a process to ferment the fungus and create what’s now called Fy protein.
“So we’ve been able to make things that range from chicken nuggets, hamburgers, breakfast sausages to yogurts and cheese,” Jonas says.
He foresees growing demand for protein-filled foods produced more sustainably than meat and dairy.
“That whole supply chain is completely inefficient and using a tremendous amount of resources of land, of water, energy,” he says. Fy could provide a more climate-friendly alternative.
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