Sustainable protein gets funding for global reach

 

A food company growing sustainable protein from a microbe has raised US$350 million in funding, bringing its total financing to over $500 million. Nature’s Fynd developed Fy, a versatile nutritional fungi protein produced by a “revolutionary fermentation” technology. The company said growing this sustainable protein source requires using only a fraction of the land, water, and energy, compared to protein food sources produced through traditional agriculture.
"Consumers today expect great tasting meat and dairy alternatives without compromising on health or sustainability,” said Thomas Jonas, CEO and Co-founder of the company.
This latest round of funding will help accelerate company growth, including expanding its production capacity, exploring partnerships, laying the foundation for global reach, and extending its product portfolio.
According to a Boston Consulting Group and Blue Horizon study, alternative proteins – plant-based substitutes for meat, eggs, dairy and seafood ­– are set to occupy 11% of the global protein market by 2035.
Data showed that food habits are changing and growing healthier and more sustainable. The study further revealed that the vegan movement worldwide is one example of how consumers today are shunning old meat and dairy diets – citing health benefits and lamenting the impact on the environment and animal welfare.