- The Protein Brewery, a Dutch startup, raises €22M
- The startup has created a new protein, named Fermotein, which can be used both for alternative proteins and as an ingredient.
- It has already started its application process for the European and US markets and expects to be approved in the next couple of years.
- The funding was led by Novo Holdings (the CVC of Denmark’s Pharma giant Novo Nordisk) and joined by Roquette Ventures and New Crop capital.
Why it matters – DigitalFoodLab’s opinion:
The fact that The Protein Brewery was founded in 2020 as a spinoff of BioscienZ can only make us think of Motif Foodworks, born out of Gingko (which has raised more than $100M in 2019). And the fermentation process and the potential use of the ingredients look really similar to Nature’s Fynd (a startup where Danone has invested in an $80M round sooner this year). It seems that the competition is growing, with more and more startups developing proprietary protein ingredients to help other companies to create their own plant-based alternatives.