Protein Brewery Raises $35.2M To ‘Springboard’ Global Expansion

Dutch food tech startup The Protein Brewery announced today it has raised a $35.2 million (€30 million) Series B round as it aims to reach commercial scale for its fungi-based protein ingredient ahead of a launch with “several” U.S.-based CPG brands in the coming months.

The round saw participation from new investors including Invest-NL and the Brabant Development Agency (BOM), alongside existing investors Novo Holdings, Unovis Asset Management and Madeli.

“The Protein Brewery has built the infrastructure, laid the groundwork, and is now positioned to bring biotech-driven food innovation to the global stage. This funding fuels its ability to drive real impact in the food industry,” said Thomas Grotkjær, partner at Novo Holdings, in a press release.

The Protein Brewery produces a powdered mycoprotein ingredient known as Fermotein that is gluten-free and GMO-free, neutral in flavor and contains “50% of complete protein, 35% of healthy fibers and [is] full of vitamins and minerals,” CEO Thijs Bosch told Nosh. The ingredient can be used in ready-to-drink beverages, protein bars, dairy alternatives, better-for-you bakery items, among other applications.

“This funding is a springboard for global expansion. With Fermotein, we are not just offering another protein – we are redefining how food is made: nutritious, sustainable, and scalable at a lower cost. The Protein Brewery is ready to lead the protein and fiber transition,” said Bosch. “We are now entering a defining moment: all building blocks of operation are in place, and we are ready to accelerate.”

According to Bosch, the company will reach profitability once its current demo-scale facility is producing at full potential capacity. The scale will also make the input more cost effective and sustainable, he added.

In addition to the new cash, the company also hired Gilbert Verschelling this month as chief technology officer; Verschelling brings 35 years of R&D experience to the role previously spent five years as the head of innovation and strategic marketing at dsm-firmenich.

The Protein Brewery is now looking to expand its “commercial team and application capability,” as it looks ahead to scale across the U.S. and Europe, pending regulatory approvals, and prepares for additional partnership activations in Singapore next year, Bosch told Nosh.

“We made a conscious choice to produce a powder instead of a ‘wet mycoprotein,’”Bosch said. “We can now easily export Fermotein to markets like the USA and Singapore, and apply our ingredient in many applications, including in the Active Nutrition segment.”