Addressing the pressing need for sustainable alternatives to meet the growing global protein demand, Hamburg-based biotech startup MicroHarvest has raised 8.5 million euros in funding. The new capital will allow the startup to bring their single cell protein production process to commercialisation.
The Series A round was led by Astanor Ventures and Happiness Capital and backed by Faber and existing investor FoodLabs. MicroHarvest will use the fresh funding to grow its research and development team, construct a pilot plant in Lisbon and accelerate towards commercial-scale production. The startup was founded in 2021 and has its roots at the TU Hamburg.
MicroHarvest addresses a market worth billions
MicroHarvest is tackling the growing demand for alternative protein ingredients for human food, a $14 billion market. It aims to provide better, healthier and tastier protein, produced sustainably using the power of microorganisms. With its production system for single cell protein, the company addresses the need for sustainable alternatives to meet the growing global protein demand.
The startup claims its proprietary technology enables the production of protein using bacteria at a speed and efficiency that greatly exceeds existing approaches. Being able to ramp up production quickly is key to becoming a relevant player in the B2B ingredients market. It enables decentralised production of sustainable, nutritious, high-quality and safe protein.
