Several corporates helped the Montana State University-backed microbial protein developer take its total funding above $500m.
Nature’s Fynd, a US-based alternative protein developer backed by Montana State University, has collected $350m in a series C round led by telecoms and internet group SoftBank’s Vision Fund 2.
Food producer Danone’s corporate venturing arm, Danone Manifesto Ventures, also participated in the round, as did agribusiness Archer Daniels Midland (ADM) and conglomerate SK.
The participants were completed by Blackstone Strategic Partners, Balyasny Asset Management, Hillhouse Capital, EDBI, Hongkou Capital, Breakthrough Energy Ventures, Generation Investment Management and 1955 Capital.
Formerly known as Sustainable Bioproducts, Nature’s Fynd grows a fungi protein named Fy, which is used as the basis for meat and dairy products which do not require animals.
Fy is obtained from a microbe with origins in the geothermal springs of Yellowstone National Park and is grown with a fermentation technology that uses a fraction of the land, water and energy required by traditional agriculture.
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