Oslo-based Norwegian Mycelium AS (NoMy), an innovator in sustainable fermentation applied sciences, introduced at this time its newest funding spherical with a €1.25 million fairness funding to scale the deployment of its mycoprotein applied sciences.
The funding spherical was led by strategic investor Nippon Beet Sugar Manufacturing Co., Ltd. (Nitten), listed on the Tokyo Inventory Change. With follow-on investments from TD Veen, EIT Meals, Farvatn, and others.
“We’re thrilled to strengthen our wonderful collaboration with Nitten Sugar as each a business companion and now an investor on this journey,” stated Ingrid Dynna, Co-founder and CEO of NoMy. “Nitten’s deep dedication to sustainability and experience in sugar manufacturing aligns completely with NoMy’s imaginative and prescient of a meals system that’s round by nature.”
Based in 2020 by Ingrid Dynna and David Andrew Quist, NoMy is a fermentation expertise firm remodeling meals business facet streams into high-value elements, utilizing the “energy of fungi“. Their fungal fermentation applied sciences are reportedly confirmed, scalable and cost-effective.
NoMy’s Co-founders deliver collectively a mix of enterprise acumen and scientific experience. Dynna has a 15-year background at Google and YouTube, the place she centered on advertising, gross sales, technique, and enterprise growth throughout six international locations. Quist, a microbiologist, has suggested the Norwegian and European Atmosphere Companies in addition to UN scientific committees. He additionally brings culinary experience because the Founding father of Hrímnir, an natural restaurant in Oslo.
NoMy presents mycoprotein as a sustainable protein supply derived from fungi by way of fermentation. This course of utilises the pure cycles of fermentation to synthesise protein by cultivating fungi, providing a substitute for conventional animal and plant proteins. NoMy emphasises the environmental advantages of mycoprotein manufacturing, highlighting its potential to rework meals business facet streams into high-value, eco-friendly meals and aquafeed elements.
The corporate positions mycoprotein as a key part in advancing sustainable meals programs and essential in addressing the rising problem of resilient protein provide and long-term meals safety.
The funding builds upon and accelerates the partnership between NoMy and Nitten, which started in April 2024, and goals to commercialise NoMy’s mycoprotein applied sciences utilising sources from the beet sugar manufacturing course of.
Shu Ishikuri, CEO of Nitten Sugar , commented: “Producing mycoprotein as a brand new use for
sugar beets, with out stopping their use as a sweetener, is without doubt one of the options to the protein disaster (protein provide scarcity) that may be a concern on a world scale. It can additionally result in the promotion of agriculture in Hokkaido, Japan’s meals base, and contribute to the promotion of a sustainable meals provide.”
NoMy goals to proceed diversifying protein provides and selling sustainability within the meals and feed business by way of its partnerships in Japan, Norway and Europe
