Kynda secures €3M Seed for alternative meat

Kynda, a Hamburg-based biotech producing sustainable proteins, has raised €3M in Seed funding.

The round was led by Enjoy Ventures (through their Invest-Impuls Scale fund), with participation from PHW Group and Clima Now, a Swiss climate tech investor. The new group of investors will be joined by C.E.L.L. Investment in a second closing.

Kynda specialises in the production of alternative proteins for the food and pet food industries. They utilise proprietary fermentation technology to convert agricultural by-products into mycoprotein—a protein-rich and fiber-rich substance derived from mushroom mycelium. This process is notably efficient, producing mycoprotein within 24 to 48 hours, significantly faster than traditional methods.

Kynda's approach emphasises sustainability by upcycling underutilized agricultural biomass, addressing environmental concerns and contributing to food security. Their mycoprotein offers a meat-like texture and rich umami flavor, making it a versatile ingredient for various meat alternatives. Additionally, Kynda provides

Clients with low-cost, plug-and-play bioreactors and starter cultures, enabling in-house biomass fermentation.  In 2024, Kynda began constructing a large-scale facility near Hamburg to produce several thousand tons of "Kynda Meat" annually. This expansion aims to meet the growing demand for sustainable proteins.

Kynda plans to scale up production at its new facility in Jelmstorf, near Hamburg, scheduled to open in Q2 2025.

“Many of our customers require thousands of metric tonnes of product. This investment will allow us to increase our production capacity with our partners to meet those needs and to reach the mass market,” said Daniel MacGowan, co-founder of Kynda. 

“This strategic partnership creates exciting synergies, accelerating the implementation and commercialisation of our technology and superfood raw materials,” said Franziskus Schnabel, co-founder of Kynda.

“With PHW’s support, we are well-positioned to drive sustainable innovation at scale.” Kynda is positioning itself as a key player in the future of global alternative protein production."

"With the vegan food market growing and consumers demanding minimally processed products, Kynda provides manufacturers with a sustainable and competitive solution to meet these trends for cleaner, healthier, and allergen-friendly food ingredients. This funding round, combined with strong partnerships and cutting-edge technology, enables Kynda to accelerate the adoption of circular economy solutions in food production and animal nutrition." added Gerrit Gnisa of Enjoy Ventures.