Israeli food tech startup Kinoko-Tech has announced a strategic commercial agreement with Australia-based accelerator and investment company Metaphor Foods.
The collaboration will allow Kinoko-Tech to produce thousands of tons of sustainable fungi-based products in Australia, with the help of a strategic investment. The agreement also includes plans for expansion into Malaysia, Singapore, Indonesia, and New Zealand, with production beginning in 2025.
Metaphor Foods, which is the innovation arm of food ingredients firm Hela APAC, will oversee the rollout of Kinoko-Tech’s products across the Asia-Pacific region. A range of protein-rich fungi-based foods will be produced, including center-of-plate options that can be used as meat alternatives along with snack items such as muesli and nut bars, protein bars, and crispy chips.
“At Metaphor Foods, our role is to facilitate transformational food tech startups like Kinoko-Tech, enabling them to make a global impact,” said Geoff Gordon, Director of Metaphor Foods and Hela APAC. “We’re thrilled to be part of their journey, starting in Australia and soon expanding to other key markets in Asia and New Zealand. Kinoko-Tech’s technology is truly a game-changer in the food industry.”
Minimally processed foods
Kinoko-Tech’s technology is licensed from Yissum, the Hebrew University of Jerusalem’s tech transfer company. It involves growing fungi mycelium on legumes and grains to produce minimally processed, natural foods with enhanced nutritional profiles. According to the startup, this solid-state fermentation process has an even lower carbon footprint than growing tomatoes, making it highly sustainable. It is also more cost-effective than biomass fermentation, which requires the use of bioreactors.
Kinoko-Tech has previously said that its platform supports various fungi strains and legumes, allowing for the production of a variety of foods rich in fiber and all nine essential amino acids. The mycelium and the fermentation process reportedly provide an umami flavor that tastes like a “combination between lentils and mushrooms”.
“Significant milestone”
A report published earlier this year found that mycelium has significant potential to improve human health, support a sustainable food system, and reduce food insecurity. The authors describe mycelium as a cost-effective alternative to meat, with scalable, affordable, and rapid production. However, they emphasize that mycelium products will need to be made available worldwide to have a significant impact. The collaboration between Kinoko-Tech and Metaphor Foods could help to accomplish this.
“We’re excited to partner with Metaphor Foods and bring our technology to new markets,” said Jasmin Ravid, CEO of Kinoko-Tech. “This partnership marks a significant milestone in scaling up our production and making a meaningful impact on global food sustainability. With Metaphor Foods and Hela APAC’s expertise, we’re well-positioned to expand our reach across the APAC region.”
