Finland-based mycoprotein company Enifer announced the completion of a €36 million (US$38.9 million) funding package comprising:
~ €15 million (US$16.2 million) in Series B funding led by the Finnish private equity fund Taaleri Bioindustry Fund I and follow-on investments from Nordic Foodtech VC, Voima Ventures, and Valio.
~ A €7 million (US$7.6 million) capital loan extended by the Finnish Climate Fund to support the company.
~ A €2 million (US$2.16 million) Climate and Environmental Loan provided by Finnvera.
~ And €12 million (US$13 million) in previously announced recycling and recuse investment grant funding from Business Finland.
Taken together, this funding will now allow Enifer to begin construction on a novel, food-grade mycoprotein factory in Kirkkonummi, Finland expected to cost €33 million (US$35.6 million). The facility, which will be the world's first commercial plant to produce a mycoprotein from sidestream raw materials, will have a capacity to produce up to 3,000 tons of Enifer's sustainable, fungi-based protein PEKILO® annually, or enough to cover the protein needs of 40,000 people for a year.
Read more at globalaginvesting.com