Enough, a Scotland-based company pioneering protein production from mushrooms, has secured a significant boost with €40 million ($43.5 million) in new growth funding. This investment will enable the company to double its output capacity at its first production site in the Netherlands and further solidify its position as a leader in sustainable mycoprotein production.
A Game-Changing Technology
Enough’s proprietary technology has been making waves in the industry, and for good reason. By feeding fungi with sugars from renewable feedstocks and then fermenting them similarly to beer production, the company produces Abunda – a sustainable mycoprotein that boasts a neutral flavor, meaty texture, and impressive nutritional profile. This protein-rich product can be used to create plant-based meat, fish, and dairy alternatives.
A More Efficient and Sustainable Option
Abunda has several significant advantages over traditional protein sources. Not only is it up to 15 times more efficient in terms of production, but it also requires less feed and produces fewer carbon dioxide emissions. This not only makes Abunda more environmentally friendly but also more affordable to produce.
Scalability and Growth Plans
The new funding will enable Enough to ramp up its production capacity at an unprecedented rate. Initially producing over a tonne of Abunda every hour, the company aims to reach 10,000 metric tonnes per year by the end of 2023. With plans to scale up to 60,000 tonnes per year starting in 2024, Enough is poised to meet the growing demand for sustainable protein sources.
A Global Market Awaits
The company’s growth plans extend beyond Europe, with a potential second location in North America on the horizon. According to Jim Laird, co-founder and CEO of Enough:
"What sets us apart is our focus on introducing high-scale capacity that will serve the market on a B2B basis and with the ability to grow in line with the growing market."
A Strong Team Behind the Company
Enough’s employee base has more than doubled since 2022, reaching 60 staff members across its offices in Glasgow, London, and Sas van Gent. The company continues to strengthen its team, adding expertise in areas such as production, marketing, and research.
Industry Recognition and Support
The new funding round is a testament to the industry’s recognition of Enough’s innovative technology and growth potential. World Fund, a prominent investment firm, has led the funding round, joined by CPT Capital.
A Bright Future Ahead
With this significant boost in funding, Enough is well-positioned to capitalize on the growing demand for sustainable protein sources. As the company continues to scale up its production capacity and expand its reach into new markets, it’s clear that mushroom-based protein pioneer Enough is here to stay.
Related Topics
- CPT Capital
- Enough
- Foodtech
- Jim Laird
- Meat substitutes
- Mycelium
- Startups
- Venture
- World Fund
About the Author
Christine Hall is a senior reporter at TechCrunch, covering enterprise/B2B, e-commerce, and foodtech. With a strong background in journalism, Christine has previously reported for the Houston Business Journal, the Texas Medical Center’s Pulse magazine, and Community Impact Newspaper.
Subscribe to Our Newsletters
Stay up-to-date with the latest industry news and insights by subscribing to TechCrunch Daily News, TechCrunch AI, TechCrunch Space, or Startups Weekly.
