Sweden-based, Mycorena is a biotech startup that grows fungus-based vegan protein, which can be used to manufacture a range of products, from vegan leather to animal feed & meat substitutes. Founded in 2017 by Ramkumar Nair (CEO) & Rebecca Gmoser (prev. R&D Mgr), the startup launched its “mycoprotein” ingredient Promyc in 2019 (made from an undisclosed fungus strain; leveraging the fungal biomass produced during fermentation in custom-made bioreactors; using side-streams from bakeries, mills & other food production as feedstock). The company claims Promyc is “neutral in taste” with a “meat-like texture”, making it an excellent option for hybrid blends (to maintain the taste – you can add any flavor you like – & texture consumers desire). Promyc is currently used to develop an “alternative meat” product in partnership with Swedish companies Nybergs Deli (meat manufacturer) & ICA (supermarket retailer) set to hit the shelves in Q4 2023. Furthermore, Mycorena also claim to have perfected an “alternative dairy” butter. Finally, the startup received grant funding from the EU’s “Farm to Fork” initiative (said to be “competitive” – administered by Vinnova & Eurostars) to look into developing mycoprotein for 3D printing food, in partnership with Revo Foods (Austria) (ps: one of the main advantages of Mycorena’s mycoprotein is its inherent fibrous structure, that perfectly mimics soft fish fiber’s texture, which is difficult to achieve with current plant-protein processing technics; “this has the potential to revolutionize the whole-cut market”; however, one the main disadvantages is that long fiber materials tend to entangle during the printing process, but patented tech from Mycorena reduces this risk & will allow a ”world first”). The collaboration is the latest in a long series for the startup, which joined forces with pea-based alternative meat producer Peas of Heaven (Sweden), plant-based food-to-go brand Rebl Eats (Finland) & global packaging company Tetra Pak in 2022 alone. The firm was also selected as one of 11 finalists in Phase 2 of the NASA Deep Space Food Challenge (the only European company aside from Finland-based Solar Foods – uses gas fermentation to produce single-cell proteins). The new €27m funding – which represents the “biggest investment (round) into alternative protein in the Nordics” – will go towards building out the firm’s commercial factory in Falkenberg (Sweden) – dubbed the “Mycorena Innovation & Development Center” i.e. the largest of its kind in Europe – to drive more products from concept to commercial release. In doing so, the startup ~competes in Europe with the likes of Mushlabs (DE) (€10m), Bosque Foods (DE) (€3.2m), Enough (UK) (€74m), Quorn (UK) (acquired by Monde Nissin Corporation for $831m in 2015), The Protein Brewery (NL) (€22m), Innomy (ES) (€1.3m) & Libre Foods (ES) (€2.6m). In the US, see Hyfé Foods ($2m), Meati Foods ($275m), Nature’s Fynd ($510m), Better Meat Co ($10m). <Source: nature.com, 3printingmedia.network, arcticstartup.com, vegconomist.com, foodnavigator.com, greenqueen.com.hk, agfundernews.com>
