Kernel Mycofoods, a fungi protein startup based in Buenos Aires, is exploding onto the vegan food scene with the unveiling of ambitious plans for 2022. The artificial intelligence-focused bio food tech company has raised in excess of $15 million and has announced a potential public listing.
Using AI and robotics to optimize the entire manufacturing lifecycle, Kernel Mycofood’s growth plans include strategic partnerships with food producers and expanding its footprint with new manufacturing plants, with a slated production capacity of over 50,000 tonnes per year in five years. The company claims to have already exceeded $250 million in product orders and will start shipping in early 2022.
Investment conglomerate Union Group Ventures has become a substantial stakeholder in the fungi-based startup following the funding round, with a potential public listing in 2022 firmly on the cards. Kernel is the recent winner of the Phase 1 NASA Deep Space Food Challenge and semi-finalist of the ongoing XPRIZE Feed the Next Billion.
As sustainability, healthy diets, and cruelty-free production are becoming the norm – and technology develops at a rapid pace – mycoprotein companies are taking an increasingly larger stake in the alt protein sphere. Kernel will expect competition in the emerging sector from other fungi-based food tech companies like ENOUGH and Better Meat Co.
“Biotechnology and AI are beginning to converge, and by harnessing them we will reduce both price and time to market,” commented Lucas Gago, Kernel Mycofoods COO.