- Food tech company Nature’s Fynd (previously named Sustainable Bioproducts) announced it raised $80 million in funding
Nature’s Fynd (previously named Sustainable Bioproducts) — a food technology company that is producing a protein from a microbe originally discovered in the geothermal springs of Yellowstone’s ancient volcano — announced it raised $80 million in funding.
The production of the company’s products started this month at Nature’s Fynd’s new 35,000-square-foot manufacturing facility on the site of the historic Union Stockyards in Chicago’s South Side. And the company will commercialize food and beverage products across breakfast, lunch, dinner, and snack occasions.
Nature’s Fynd’s fermentation technology grows protein with a fraction of the land and water resources required by traditional agriculture. The product contains all 9 essential amino acids thus making it one of the rare non-animal sources of complete protein. Plus it also includes dietary fiber, calcium, and vitamins. And it is can be made into alternative meat and dairy products as well as protein drinks and powders.
The lead investors of the round include sustainable investment firm Generation Investment Management LLP and Breakthrough Energy Ventures. 1955 Capital, Mousse Partners, ADM Ventures (the venture arm of ADM) and Danone Manifesto Ventures (the venture arm of global food and beverage company Danone) also joined the round.
Nature’s Fynd — which employs 50 people across its Chicago headquarters and its R&D center in Bozeman, Montana — had emerged out of NASA supported research into organisms that thrive in the extreme environmental conditions of Yellowstone National Park’s geothermal springs. And those springs are part of one of the world’s largest active volcanoes. By the end of the year, Nature’s Fynd plans to employ over 100 people.
“In these challenging times, securing food for our growing population under the immense pressure of climate change becomes even more urgent. We must find new solutions that can both nourish people and nurture the planet. Our innovative technology was developed by studying nature’s own solutions for adapting — and ultimately thriving — in environments with limited resources.”
Nature’s Fynd CEO and co-founder Thomas Jonas
“Nature’s Fynd has a highly efficient solution to help address the climate crisis. We have tracked the team and technology for several years and believe this is one of the most scalable platforms to drive true food system sustainability.”
-Lila Preston, co-head of the Growth Equity strategy at Generation Investment Management
“As global demand for protein increases, we urgently need new solutions that meet our nutritional needs without further damaging the environment.”
-Carmichael Roberts of Breakthrough Energy Ventures