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Fungi, Mushrooms & Mycelium

Finland’s EniferBio Raises €11M to Scale Up Production of Upcycled Mycoprotein

Finnish biotech startup eniferBio, which produces upcycled mycoprotein powder from food and agricultural byproducts, has raised €11 million in Series A funding. The round was led by Aqua-Spark, with participation from Tesi, Valio, Voima Ventures, and Nordic Foodtech VC. EniferBio will use the funding to scale up production of its mycoprotein powder to thousands of tons per year, along with seeking regulatory approval both in the EU and further afield. Called PEKILO, the mycoprotein is produced through fermentation and contains up to 70% protein. It is also highly sustainable, requiring very little land and water to produce. While the protein was initially developed decades ago as a more sustainable form of animal feed, eniferBio is exploring an array of other applications, including human food. The …