Swedish Foodtech Millow Raises €2M as Nordic Foodservice Push Begins and Core Patent Clears

Swedish foodtech company Millow has raised €2 million in funding led by Magnus Emilson, with plans to expand production capacity and target the Nordic foodservice sector. Co-founder Jan Enhager of Vitamin Well has joined as an investor and strategic adviser, with other investors from the technology and food sectors participating in the round. Millow produces a two-ingredient protein through solid-state fermentation of Swedish oats and mycelium, offering a sustainable and low carbon footprint alternative to traditional proteins.

The company's core patent protecting its low-water production method has been cleared by the European Patent Office, paving the way for commercial delivery. With a large-scale production facility already in place, Millow is in discussions with major foodservice operators and distributors in the Nordics, while attracting international interest. CEO Fredrik Öhrn sees the funding round as a crucial step towards serving foodservice customers at the necessary volumes, emphasizing the importance of the team and advisers in executing their commercial strategy.