Enifer, a Finnish biotechnology startup, has raised €36 million ($38 million) in a Series B funding round that will enable it to proceed with construction of its first commercial mycoprotein factory.
Sold under the brand name PEKILO, the company’s mycoprotein is a fungi-based powder, rich in protein and produced through a special fermentation process. It has a wide variety of uses, including feed for the aquaculture industry and pet food.
The funding round was led by Finnish private equity fund Taaleri Bioindustry, with follow-on investments from existing shareholders Nordic Foodtech, Voima Ventures and Valio.
