Kynda raises EUR 3 million in seed round for mycoproteins

14 March 2025

Foodtech startup in Hamburg Metropolitan Region forms partnership with Enjoy Ventures, PHW Group and Clima Now

The Jelmstorf-based Kynda startup has raised EUR 3 million in a seed financing round, a press release said Wednesday (February 19, 2025). The foodtech startup in the Hamburg Metropolitan Region develops fermentation technologies and bioreactors that convert by-products into high-quality mycoproteins. Upcycling results in nutrient-rich, scalable and climate-independent proteins that have a lower impact on the environment and can feed a growing world population. Enjoy Ventures led the financing round through its Invest-Impuls-Scale-Fund. PHW Group, Germany's largest poultry company, and Clima Now, a Swiss climate tech investor, also participated and will be joined by C.E.L.L. Investment as investor.

Cost-effective and climate-friendly protein

"This strategic partnership enables promising synergies that will accelerate the implementation and commercialisation of our technology and superfood raw materials," said Franziskus Schnabel, Chief Operating Officer of Kynda. The startup uses fungus-based fermentation to produce sustainable proteins from agricultural by-products, which is a cost-effective and climate-friendly alternative to plant and animal protein. The mycoproteins produced have a meat-like texture and contain essential amino acids, fibre, cell-bound fats and have a natural "umami" taste. All in all, this is ideal for plant-based foods and pet food.

Scalable and user-friendly plug and play solution

Proprietary technology in a new generation of fermentation reactors goes hand in hand with biotechnological expertise. The scalable and user-friendly plug-and-play solution allows industry to use food by-products. The process significantly reduces water consumption and greenhouse gas emissions. Transport costs are minimised as production is done where the by-products are produced. Nutrient-rich by-products do not need to be disposed of and, thanks to Kynda's technology, can be reused which in turn boosts the circular economy.

New Kynda production plant

Kynda will ramp up production at its new plant in Jelmstorf from the second quarter of 2025. "Many of our customers require thousands of tonnes of products," said Daniel MacGowan, CEO of Kynda. "This investment will allow us to scale up production with our partners to meet demand and reach the mass market." Kynda is positioning itself as a key player in the future of global alternative protein production. "Given the growing vegan food market and increasing consumer demand for minimally processed products, Kynda is offering manufacturers a sustainable and competitive solution to meet these trends towards cleaner, healthier and allergen-friendly food ingredients," said Gerrit Gnisa, a representative of Enjoy Ventur.
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