Chicago-based Nature’s Fynd announces the raise of an additional $45 million, increasing the total amount of investment to $150 million. The food-tech company further revealed to grow its team of veterans from the food industry to realize market entry of its unique fungi proteins in 2021.
Born out of research conducted for NASA, Nature’s Fynd is introducing an entirely new fungi protein source in the global food supply chain called Fy™ sourced from volcanic springs. Back in 2018, the company has raised $33 million in Series A financing from two of the world’s largest food and agribusiness companies, followed by $80 million in its Series B round led by Bill Gates and Al Gore.
The total investment, which has now increased to $150 million, strengthens Nature Fynd’s position as one of the most funded companies in fermented foods. Besides the undisputed industry leader Perfect Day, MycoTechnology and Motif FoodWorks are among the top companies in this ranking.
To stay competitive, drive innovation and bring its nutritious products to market by 2021, Nature’s Fynd also announces a group of new leaders, all of whom are veterans of the food industry, including former leaders from ADM, Bell Brands USA, KIND Snacks and Cargill.
The list names Balijit Singh Ghotra joining Nature’s Fynd as SVP of Food Innovation from ADM; Emilie Runac as the new Director of Manufacturing after 16 years at Bel Brands USA; Pat Dalugdug joining as Director of Sales from KIND Snacks; and Tom Frey, who was appointed to be Director of Project Engineering after 16 years at Cargill.
Nature’s Fynd has been manufacturing in its own production facility since March and emphasised in an interview with vegconomist that their “growing season” never ends, they can produce 365 days a year and want to be on supermarket shelves soon.
Co-founder and CEO Thomas Jonas stressed the relevance of transforming the food system and the role of Nature’s Fynd in the realisation of this moon shot as follows: “We’re at a pivotal moment where changing the way we all eat to take better care of our health and to care for our planet is crucial. Now Nature’s Fynd needs to bring delicious foods to market so we can all be part of the solution to climate change.”