German food tech startup Kynda has secured €3M in seed funding to expand its fermentation-based mycoprotein production, marking a key step in its mission to make sustainable protein more accessible. The round was led by Enjoy Ventures through its Invest-Impuls Scale fund, with participation from Swiss climate tech investor Clima Now and German poultry giant PHW Group, parent company of Wiesenhof.
The funding round also includes a second closing, expected in April 2025, with C.E.L.L. Investment already committed to an additional €200,000. Discussions are ongoing with other potential investors to further strengthen Kynda’s financial position as it scales up operations.
PHW Group’s investment signals its growing commitment to alternative protein production, a sector it has been expanding into since 2015. The company operates its own plant-based label, Green Legend, and has previously partnered with Israeli cultivated meat startup SuperMeat to introduce innovative protein solutions to the European market.
Other key investors in this round include Clima Now, a Swiss climate tech investor focused on sustainable innovations, and Enjoy Ventures, which specializes in funding high-growth startups tackling environmental challenges.
While Kynda’s post-money valuation has not been disclosed, the startup has now raised a total of €5.8M, reflecting strong investor confidence in its proprietary fermentation technology and its role in the growing sustainable food industry.
The demand for sustainable protein solutions continues to rise as the food industry looks for ways to reduce waste and emissions. Kynda’s approach taps into this trend by using food industry sidestreams—such as soy, oat, and rice pulp—to create high-protein mycoprotein.
Unlike traditional plant-based proteins, which require extensive processing, Kynda’s submerged biomass fermentation method allows for rapid production within 48 hours. This is significantly faster than the industry standard of 7-10 days, making it a more efficient and scalable solution.
With the newly secured funds, Kynda is gearing up to open its 6,200 sq m production facility in Jelmstorf, Germany, set to launch in Q2 2025. The factory will initially house 30,000 liters of fermentation capacity, enabling an annual production of 2,000 tonnes of mycoprotein.
The next phase of expansion, supported by PHW Group’s strategic partnership, will boost capacity to 70,000 liters. This is a crucial step in meeting the growing demand for alternative proteins across food and pet food industries.
“Many of our customers require thousands of metric tonnes of product. This investment will allow us to increase our production capacity with our partners to meet those needs and to reach the mass market,” said Daniel MacGowan, co-founder of Kynda.
Founded in 2019 by Daniel MacGowan and Franziskus Schnabel, Kynda is a Hamburg-based biotech startup pioneering the development of fermentation-based mycoprotein. The company’s innovative approach transforms agricultural by-products into high-quality, sustainable protein.
Kynda’s plug-and-play bioreactors and starter cultures provide a scalable solution for food manufacturers looking to incorporate fermented proteins into their product lines. Its proprietary fungal strain is already EU novel food-compliant, ensuring regulatory approval for expansion into new markets.
By focusing on low-cost, sustainable food production, Kynda aims to make cleaner, allergen-free, and highly nutritious protein alternatives available to a wider audience.
PHW Group’s investment in Kynda aligns with its broader strategy of expanding into alternative proteins. The poultry giant, one of Europe’s largest, has been actively diversifying its protein portfolio, with ventures into plant-based, cultivated meat, and fermentation technologies.
Other notable investors include Clima Now, a Swiss organization funding innovative climate tech solutions, and Enjoy Ventures, which focuses on scalable impact-driven startups.
As the fermentation industry continues to gain momentum, Kynda’s latest funding round places it at the forefront of next-generation protein innovation, ensuring a more sustainable, efficient, and accessible food future.
