Spanish start-up Innomy has raised Є1.3 million in a pre-Series A funding round for developing mycelium-based meats.
The round was led by international investors, including Corporación Cervino, Rockstart, Zubi Capital, Eatable Adventures and the National Center for Technology and Food Safety (CNTA).
Protein alternatives such as mycelium are said to be more sustainable and healthier than traditional meat production.
Juan Pablo de Giacomi, CEO and founder of Innomy, said: “We were born as a platform to channel many years of research in the field of the properties of edible mushrooms. Our mission is to respond to consumers that demand good food products for their health but also for the planet’s wellbeing. We want to reach new markets and bring our product to thousands of people.”
Giacomi and biotechnologist Pablo Sánchez Rey founded the company alongside mycologist and technology partner, Francisco Kuhar The team has spent time researching the properties of mushroom-based proteins and their benefits.
José Luis Cabañero, CEO and founder of Eatable Adventures. commented: “We are very proud to be part of this new milestone that consolidates the leadership of the Spanish foodtech ecosystem. In the last few months, we have managed to raise Funding rounds of an average of 1.8M for three of the start-ups that have been selected in our acceleration program. We continue to bet on disruptive technologies that impact the way food is produced and consumed, ensuring food safety for all/”
Innomy is one of three foodtech Spanish start-ups to announce its first funding round after completing the acceleration programme, Spain Foodtech, developed by Eatable Adventures, in collaboration with ICEX Spain Export and Investment and the CNTA and the Rockstart AgriFood programme.
“At Rockstart, purpose-driven and determined founders are central to our investment selection. In the case of Innomy, the founding team is composed of specialists in mycelium and have all shown commercial insight and humble curiosity during the mentor sessions throughout our accelerator programme. We are delighted to make our second investment in the company,” added Mark Durno, managing partner of Rockstart.
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