Biotech company Bosque Foods, which is developing mycelium-based whole-cut meat alternatives, has raised $3 million in its seed funding round.
The round saw participation from FoodLabs, Happiness Capital, SOSV, Blue Horizon, Blue Impact, and angel investor Arman Anatürk. Bosque says it will use the funding to further develop its products and work towards commercialisation.
“Our aim is to offer a real alternative.”
The company has plans to test its technology at pilot scale and collaborate with chefs to conduct trials at restaurants. Additionally, Bosque will be seeking regulatory approval in both Europe and the US.
Like many alt-meat companies, Bosque Foods uses fermentation to manufacture its products. But the company differs in that it uses a process called solid-state biomass fermentation, as opposed to the liquid fermentation more typically used.
Bosque’s whole cuts are clean label and similar to chicken or pork. Because of mycelium’s naturally meaty texture, minimal processing is required to achieve the right properties.
Creating new alternatives
Bosque first revealed its products in February, inviting investors to sample the meat alternatives at a private tasting. At the time, founder and CEO Isabella Iglesias-Musachio explained to vegconomist that the company is not looking to exactly replicate meat. Rather, the goal is to “create new alternatives that taste even better, are equally as ‘meaty’ and function the same, without the negative health or environmental toll of animal meat”.
“A growing segment of consumers want to reduce their meat consumption for health or environmental reasons but feel unsatisfied by the alternatives available to them — ultra-processed patties, nuggets high in sodium, and products packed with synthetic chemicals and additives,” Iglesias-Musachio said following the company’s seed funding round. “Our aim is to offer a real alternative, and we’re happy to have such renowned investors supporting our mission.”