Amsterdam-based foodtech startup Farmless has raised €1.2 million in a pre-seed funding round. The fermentation platform is based on liquid feedstock made with CO2, hydrogen and an unspecified source of renewable electricity.
The €1.2 million pre-seed round was co-led by Revent, Nucleus Capital, and Possible Ventures HackCapital, Sustainable Food Ventures, VOYAGERS Climate-Tech Fund, TET Ventures and angel investors Jenny Saft through the Atomico Angel program, Ron Shigeta, Martin Weber, Rick Bernstein, Nadine Geiser, Joy Faucher, Michele Tarawneh, Alexander Hoffmann and Christian Stiebner participating.
According to Farmless, instead of using sugar, they’re pushing the boundaries of what’s possible with fermentation using a liquid feedstock that can be made with renewable energy; electro ecology, as they like to call it.
While the details around what exactly Farmless is doing remain scant, the company says its process is dramatically more resource and land efficient when compared to traditional animal farming and requires 10-25x less land than plant-based protein production and 250-500x less land than animal protein harvesting.
"We’re proud to be backed by an amazing group of experienced climate tech investors who share our mission. With our fermentation platform we aim to dramatically outperform animal agriculture and reliably produce low-cost proteins at a planetary scale. We believe this technology has the potential to end factory farming, rewild our planet and draw down gigatons of carbon," commented Farmless CEO and founder Adnan Oner.