Enifer Raises €36M for Mycoprotein Facility Producing the “Missing Ingredient for a Sustainable Food Chain”

Enifer, a Finnish company, has raised €36 million to build a mycoprotein facility that will produce up to 3,000 tons of its proprietary mycoprotein, PEKILO®, annually. This mycoprotein will be made from upcycled food industry sidestreams, making it a sustainable protein source. The facility, expected to be completed by the end of 2025, will be the first of its kind to produce mycoprotein from sidestreams, with operations starting in 2026.

The funding for the facility includes a €15 million Series B round led by Taaleri Bioindustry Fund I, along with investments from existing shareholders and support from the Finnish Climate Fund and Finnvera. Enifer will seek Novel Foods approval for PEKILO this year and expects it to be granted by 2026. The CEO of Enifer, Simo Ellilä, believes that mycoprotein is the "missing ingredient for a more sustainable food chain" and plans to expand production with future factories already in the works.