Agrifoodtech start-up MicroHarvest has actually raised €1.5 million from Simon Capital, revealing that the brand-new collaboration will “strengthen the teams’ operational know-how” in addition to offering financing.
The raise accompanies the opening of MicroHarvest’s brand-new workplace in Lisbon on May 4. The business will now be based in both Hamburg and Lisbon, and is building a pilot plant in the latter city to produce models and speed up research study.
Highly effective protein
MicroHarvest produces fermentation-enabled protein utilizing an exclusive innovation based upon biomass fermentation. The protein can be produced in simply 24 hr from input to output, utilizing a portion of the resources needed for numerous other alternative proteins. The business has actually already effectively scaled to a production rate of 300kg each day.
According to MicroHarvest, there are a number of possible applications for the innovation, consisting of human food, animal food, and animal feed. The business received a BloombergNEF Pioneers Award last month in acknowledgment of its development.
“Bold ambition”
In September, MicroHarvest protected €8.5 million in a Series A round led by Astanor Ventures. The overall quantity raised by the business now stands at €10 million.
MicroHarvest reports that production is presently being increase in cooperation with an agreement producing partner, with the objective of releasing commercially by the end of the year.
“Simon Capital doesn’t just bring extra funding: through them, we gain access to an incredibly experienced team who understands the ins and outs of a manufacturing company in the food and beverage space. We share a result-oriented mindset and are purpose-driven, with the bold ambition of building a resilient food system. I believe this combination of operational and cultural match is what makes this partnership a critical milestone for our company’s success,” said Katelijne Bekers, MicroHarvest co-founder and CEO.
