Enifer spun out from the VTT Technical Research Centre of Finland in 2020 to commercialize Pekilo, a single-cell fungus mycoprotein originally developed by the paper industry in the 1960s–70s. Its core product is a dry powdered mycoprotein ingredient produced via fermentation on food-industry sidestreams (for example dairy waste like lactose) and processed to a neutral flavor for broad culinary use. The company intends to remain B2B, targeting uses from patties and cold cuts to yogurts, cheeses and pet food while also considering animal feed partnerships. Enifer is preparing novel-food applications, targeting EU clearance first and then Singapore and the U.S. The startup is building a fermenting and processing factory in Kirkkonummi that will produce 500 kg of protein per hour; it expects to start ramping operations in 2026 and says reaching full production capacity will take about three years. Its first factory has been fully funded through a mix of equity, loans and grants enabling the company to move toward commercial scale-up. Enifer develops PEKILO® mycoprotein ingredients produced through fungal fermentation; the product is a protein- and fiber-rich powder with neutral taste and color intended as a plant-protein substitute in foods. The company emphasizes recycling and reuse by converting industrial by-products and waste streams into feedstock for its fermentation process. Enifer plans to build a commercial-scale factory with roughly 3 million kilograms annual production capacity—equivalent to the protein from 30,000 cows—with at least 20× lower carbon emissions. The facility is projected to cost €30M, is being engineered with AFRY, will be located in the Uusimaa region with a site announcement expected in Q1 2024, and is expected to be completed by end of 2025 with production ramp-up in 2026. Enifer expects to file for regulatory approval of its food-grade ingredient in the first half of 2024. The company has ongoing partnerships with Skretting, Purina, and Valio, and previously raised an €11M Series A in spring 2023. eniferBio develops PEKILO, a fungus-derived mycoprotein produced through a specialized fermentation process that yields a protein-rich dried powder high in protein, healthy carbohydrates, fats and minerals. The product is positioned for multiple use cases including pet food and aquafeed and is already used in partnerships with companies such as Skretting, Purina and Valio. The company intends to use the new funding to scale up PEKILO production capacity. eniferBio is pursuing a next phase of developing consumer-fit products in collaboration with Valio. The company is led by CEO Simo Ellilä and is based in Espoo, Finland. Financially, the company completed a Series A raise to support its scaling plans.

Total raised

$64M

Funding rounds

6

Latest round

Series B

Latest activity

May 2024