Two alternative food startups in Sweden and Austria have received a €1.5 million ($1.6 million) grant to continue developing their joint project.
Sweden-based Mycorena and Austria-based Revo Foods will use the money to further develop new technologies and processes to produce mycoprotein for 3D printing.
The aim of the project is to drive the commercialization of the whole-cut seafood option in the alternative protein space.
The funds came from Swedish innovation agency Vinnova, the Austrian Research Promotion Agency, and EU funding program Eurostars. There were about 900 applications for grant.
Mycorena and Revo Foods will be the first companies to develop a customized mycoprotein and produce 3D printed whole cuts.
One of the advantages of mycoprotein is its fibrous structure, which mimics the texture of soft fish fiber, something that is difficult to achieve using current plant-protein processing techniques, according to the press release.
To create mycoprotein, manufacturers ferment fungi spores along with glucose and other nutrients in a process similar to what's used to make beer.
Since Revo's launch in 2021, the company has nabbed several rounds of funding, including €800,000 ($935,000) from Biogena Group investor and founder Albert Schmidbauer, and €1.5 million ($1.8 million) in 2021.
Revo Foods already has several seafood alternative seafood products in the market, including a plant-based tuna spread and salmon spread.