German company Kynda, which describes itself as a pioneer in industrial biomass fermentation, has raised €3 million in seed funding.
The round was led by Enjoy Ventures via its Invest-Impuls Scale Fund. Poultry processor PHW Group and Swiss climate tech investor Clima Now also participated. Additionally, impact-oriented investor C.E.L.L. Investment will join a second closing.
Kynda develops fermentation technologies and bioreactors that can
convert by-products from the food industry into high-quality mycoproteins. The new funding will aid in the company’s mission to optimize sustainable protein production through fungal-based fermentation and mycoprotein development.
“Many of our customers require thousands of tons of products. This investment enables us to increase our production capacity together with our partners to meet this demand and reach the mass market,” said Daniel MacGowan, co-founder of Kynda.
“Logical next step”
Mycoproteins produced using Kynda’s proprietary technology are said to have a meat-like texture, cell-bound fats, and a natural umami taste. The scalable technology enables industry partners to utilize side streams of food production, significantly reducing water consumption, greenhouse gas emissions, and transport costs compared to traditional protein production methods.
Following the investment, Kynda plans to expand production at its new facility in Jelmstorf near Hamburg, which is scheduled to open in the second quarter of 2025. Additionally, PHW Group will now become a strategic partner of the company.
The poultry processor has established itself in the alternative protein market in recent years through investments in companies such as cultivated meat producer Mosa Meat. Last year, PHW Group announced plans to establish a new subsidiary focused on traditional and precision fermentation to develop ingredients for alternative protein and blended products.
“Since its founding in 2024, VTEC Precision Foods, a subsidiary of the PHW Group, has been intensively dedicated to the fermentative extraction of raw materials from by-products of plant-based protein production,” said Marcus Keitzer, Board Member for Alternative Proteins at the PHW Group. “An investment and partnership in the field of mushroom-based fermentation was therefore the next logical step for us. This strategic partnership enables promising synergies that will facilitate the implementation and commercialization of our products.”
