Enifer

Investments & Finance

Investment Climate Podcast: Simo Ellilä of Enifer – How to get funded in 2024

In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 12: Enifer: Simo Ellilä of Enifer In this episode, Alex talks to Simo Ellilä, CEO and co-founder of Enifer, a biotech startup in Finland that produces sustainable microprotein through the fermentation of industrial byproducts. Simon discusses the strategic approach Enifer took to raise their current rounds and a few key strategies that helped them secure funds …

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Enifer mycoprotein facility

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Cultivated, Cell-Cultured & Biotechnology

Enifer Raises €36M for Mycoprotein Facility Producing the “Missing Ingredient for a Sustainable Food Chain”

Finland’s Enifer has secured enough funding to begin the construction of a mycoprotein facility that will upcycle food industry sidestreams into fungi-based protein ingredients. The facility will cultivate up to 3,000 tons of Enifer’s proprietary mycoprotein, PEKILO®, every year; this is said to be enough to meet the annual protein needs of around 40,000 people. According to the company, the plant will be the first worldwide to produce this type of mycoprotein from sidestreams. The construction of the facility is expected to cost €33 million and be completed by the end of 2025, with operations ramping up in 2026. The new funding consists of a €15 million Series B round led by the private equity fund Taaleri Bioindustry Fund I, with follow-on investments from existing …

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Enifer Secures €12 million grant to build a first-of-its-kind mycoprotein ingredient factory

Image courtesy of Enifer
Investments & Finance

Enifer Receives €12M EU Grant for “First-of-its-Kind” Mycoprotein Facility in Finland

Finnish biotech startup Enifer announces that it has received a grant worth over €12 million from the European Union’s NextGenerationEU programme, to construct its first commercial-scale mycoprotein facility in the Uusimaa region (the exact location has not been revealed). Enifer has developed a mycoprotein ingredient called PEKILO using fungal fermentation, industrial byproducts, and waste streams. The plant’s total construction cost is €30 million and is set to be completed by the end of 2025, with production starting in 2026. Once operational, the biotech claims that the mycoprotein factory, the first-of-its-kind, will be ready to produce three million kilograms of PEKILO per year — equivalent to the protein yield of 30,000 cows while emitting at least 20 times fewer carbon emissions. “This plant will be a critical …

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