The Venture Codex

Participated · Equity · Mar 2026

Epoch Biodesign develops enzymatic processes that depolymerize pre- and post-consumer plastic and textile waste into monomers, recovering more than 90% of desired monomers through a cascade of enzyme treatments. The company sources industrial enzymes rather than using live microbes and captures dyes as a separate byproduct to be treated independently. Its current commercial focus is nylon 6,6, a high-strength synthetic fiber used in apparel, airbags, carpets and other applications, with plans to adapt the platform to other plastics over time. Epoch is building a demonstration-scale facility near Imperial College London and plans a commercial-scale plant expected online in 2028 with capacity targeted at 20,000 metric tons per year of monomer. The company was founded and is led by CEO Jacob Nathan and has secured strategic investor support including Lululemon through its recent $12 million funding round.

Participated · Series A · Jan 2025

Project Eaden develops ultra-realistic plant-based meats using proprietary fibre-spinning and compounding technology inspired by the textile industry. Its initial product lineup focuses on ultra-realistic hams, and the company is pursuing R&D of whole-cut meats. The startup closed an oversubscribed €15M Series A, bringing total funding to €27M, to support a European retail launch and further product development. Its products are endorsed by butchers, Michelin chefs and retail buyers. Project Eaden reports that each kilogram of its product reduces greenhouse gas emissions by up to 20 kg CO₂-eq, cuts water use by up to 56 m³ and decreases land use by up to 20 m². The company plans a multi-market European launch in 2025, starting with a retail debut in thousands of REWE supermarkets in Germany in the first half of the year. Project Eaden develops edible plant-based protein fibers and a fiber-spinning process intended to produce whole cuts of meat alternatives (the company aims to launch a plant-based steak this year). Its proprietary bio-fiber approach mimics the texture, juiciness and bite resistance of animal meat by bundling millions of thin fibers into finished cuts. The startup says the method is more scalable and less costly than extrusion and could be applied across beef, pork, chicken and seafood. Project Eaden is pre-revenue and currently moving from lab setup to prototype production with plans to refurbish manufacturing space for in-house scale-up. The company plans to hire R&D and food-grade materials staff and partner with culinary experts to debut the product. Longer-term plans include moving to a highly automated production facility and pursuing additional funding to accelerate a commercial plant build. Founders include materials scientist David Schmelzeisen, mymuesli founder Hubertus Bessau and ex-Zalando manager Jan Wilmking. Project Eaden develops animal-free steak and plans a wider portfolio of sustainable foods produced with proprietary technology that aims to recreate aroma, texture and visual appeal. The company says its process can handle a wide range of raw materials and is recruiting tissue engineers to reinvent plant-based meat "from the fiber up." Founders include Dr.-Ing. David Schmelzeisen (R&D), Jan Wilmking and mymuesli co-founder Hubertus Bessau. Project Eaden positions its product as highly palatable and cost-efficient, with the explicit goal of reducing food-related emissions by encouraging preference for sustainable options. The startup claims its first steak prototypes already outperform existing alternatives in taste, look and texture according to the lead investor. The newly raised funds will be used to further develop and scale the company's proprietary technology.

Participated · Series B · Sep 2024

Formo is a Berlin-based fermentation startup that makes animal-free cheeses using Koji protein as the primary ingredient. Its production uses micro fermentation—harvesting Koji proteins without genetic modification—allowing it to avoid novel-food regulatory hurdles and sell products immediately. The company launched two SKUs (Frishchain cream-style spread €2.89 and Camembritz Brie-style €3.99) in more than 2,000 REWE, BILLA and METRO stores in Germany and Austria and currently produces about 100 tons per month. Formo plans to scale production to 1,000 tons per month by early 2025 and expand to other European markets and beyond. Future plans include moving into precision fermentation and gene editing to produce milk proteins such as casein to enable meltable hard cheeses; feta-style and blue cheeses are also in the pipeline. The company highlights sustainability benefits (claims of 65% fewer emissions, 83% less land use, and 96% less water versus dairy cream cheese) and says early reception has been strong with a view to reach net profitability relatively soon. Formo is Europe’s first cellular agriculture company developing animal-free dairy products using nature-identical milk proteins produced via precision fermentation. Founded in 2019 and based in Berlin, the startup domesticates microorganisms instead of cows to create cheeses that match the taste, texture, and functional properties of animal-derived products. The company highlights that microorganisms can be up to 20 times more efficient than cows at converting feed into food, which it says supports environmental and cost advantages. Formo plans to use its recent funding to build a pilot plant, fast-track commercial-scale production, and expand its molecular biology and food science teams. With increased R&D capacity, the company intends to broaden its product portfolio to include European dairy specialties such as mozzarella and ricotta, developing techniques in collaboration with artisan cheesemakers. Formo positions its technology as a way to reduce the environmental, human health, and animal welfare costs of traditional dairy production.

Participated · Series B · Jan 2024

Infinite Roots (formerly Mushlabs) is a German biotech company developing products from fungal mycelium for applications ranging from food to materials. The company closed a $58M Series B to accelerate commercial growth and expand production capacity. IR plans to use the capital to invest in launch activities and scale using an asset-light production approach. That approach includes partnering with existing industrial facilities and refurbishing parts of a large German brewery to use brewery capacity and waste as a production hub. The firm faces well-funded competitors in the mycelium space, including Meati, Nature’s Fynd, Myco Technology, Enough, and Quorn. Founder and CEO Dr. Mazen Rizk said the funding reflects the company’s ability to scale its technology toward industrial production. Mushlabs develops liquid-fermentation processes to grow edible mushroom mycelium for use in alternative-protein and meat-replacement products. Its mycelia are fed on agrifood sidestreams, producing biomass in four to five days and enabling a highly circular, lower-water, lower-footprint process. The startup highlights nutritional benefits (protein, micronutrients, fiber with prebiotic properties) and a cleaner label versus some competitors, using recognizable edible mushroom varieties. Mushlabs sees potential for decentralized, mobile production that can operate year-round and support localized food supply during crises. Since launching in mid-2018 the company has built an 11-person team with experience at Unilever and Marley Spoon. It plans to use new capital to scale to industrial production, build a sales function, and is considering consumer-facing offerings.

Participated · Equity · Dec 2023

CellRev has developed a suite of technologies that offer scalable, quality-controlled, efficient, and affordable processes for adherent cell culture. The platform is designed to make adherent cell culture a viable commercial option for cell and gene therapies and cultured meat. Its processing platform is gaining interest worldwide and the company plans a full launch in 2024. Dr Martina Miotto established CellRev while completing her PhD in Corneal Tissue Engineering and Chris Green is chief executive. The company recently secured external funding to support commercialization. Management says 2024 will be a defining year with a significant product launch and major customer collaborations in the pipeline. CellulaREvolution, founded in 2019, is developing a synthetic peptide coating to eliminate the need for animal-derived serum and a continuous culturing process to cut cell-cultivation costs. The company has built bioreactors designed for continuous growth, and preliminary data indicate these could produce twice as many cells in a given time using a smaller bioreactor than conventional batch culturing. These technologies target two major industry pain points: serum dependence and high cultivation costs. CellulaREvolution reports several ongoing collaborations with cultured meat companies to test specific cell lines, with positive early results. Management has said it is keen to transition some collaborations into sales. The company recently raised external funding to support these development and commercialisation efforts.