Nature's Fynd develops Fy™, a “new-to-the-world” protein sourced from microbes originally found in Yellowstone hot springs and produced using breakthrough fermentation technology. The company makes non-GMO, animal-free meat and dairy alternatives and says its process requires a fraction of the resources of animal agriculture. Its early pre-release breakfast patties and cream cheese sold out in 24 hours, and its products are now available in a growing number of U.S. retailers, including Whole Foods Market. Nature's Fynd emphasizes impact and decentralized production as part of its mission to improve global protein access. The company has substantial capital: it has raised $500M following a $350M Series C last year. Leadership highlights the potential to deploy fermentation technology in low- and middle-income farming communities to boost income and nutrition. Nature's Fynd develops Fy, a new-to-the-world nutritional fungi protein grown using a fermentation technology that requires a fraction of the land, water and energy of traditional agriculture. The company says Fy is versatile and is being used to make meatless and dairy-free products, including a Fy Breakfast Bundle that sold out in 24 hours. Nature's Fynd has scaled production using robotics and automation in a state-of-the-art facility in Chicago’s Union Stockyards. The recent financing will be used to expand production capacity, build partnerships across retail and QSR channels, extend the product portfolio, and lay the foundation for global reach. Management has signaled a particular focus on expansion into Asia where it sees substantial demand for sustainable protein. The company expects to launch branded Fy-based foods in selected U.S. retailers later in the year. Nature’s Fynd produces Fy™, a new-to-the-world nutritional fungi protein derived from a microbe originally discovered in Yellowstone geothermal springs. Born from research conducted for NASA, the company positions Fy as a complete protein that uses a fraction of the resources of traditional agriculture and has an extremely low carbon footprint. Nature’s Fynd plans commercial product launches in 2021 and aims to introduce multiple product offerings built on Fy. To support commercialization and scale production, the company has added several food-industry veterans across food innovation, manufacturing, sales, and fermentation engineering. Financially, Nature’s Fynd secured $45 million in additional venture debt and equipment financing commitments and has raised over $150 million in equity and debt financing to date. Management says the financing and hires will accelerate the go-to-market strategy, enable more product offerings, and ensure capital efficiency for capital expenditures. Nature's Fynd produces a protein derived from a microbe originally discovered in the geothermal springs of Yellowstone's ancient volcano. Its ingredient contains all nine essential amino acids and also includes dietary fiber, calcium and vitamins. The company plans to commercialize food and beverage products across breakfast, lunch, dinner and snack occasions. Production began this month at its new 35,000-square-foot manufacturing facility on the site of the historic Union Stockyards in Chicago's South Side. Nature's Fynd employs about 50 people across its Chicago headquarters and a Bozeman, Montana R&D center. The company emerged out of NASA-supported research into organisms that thrive in Yellowstone National Park's geothermal springs and is led by CEO and co-founder Thomas Jonas. Sustainable Bioproducts develops an innovative fermentation technology to grow edible protein derived from research on extremophile organisms. The technology originated from studies of organisms in Yellowstone National Park’s volcanic springs and is intended to produce protein with high nutritional value and minimal environmental impact. The company is led by CEO and cofounder Thomas Jonas and is positioned in the food-technology/biotech space. It has received financial and in-kind support from agencies including NASA, the National Science Foundation, the National Park Service, the EPA, and the USDA, as well as support from the State of Montana and Montana State University. The company operates out of the University of Chicago’s Polsky Center for Entrepreneurship and Innovation. Financially, the company completed a $33M Series A financing to advance its technology.

Total raised

$513M

Funding rounds

5

Latest round

Grant

Latest activity

Apr 2022