FUNGI MEAT START UP GETS $4.25 MILLION INVESTMENT

A startup that uses sustainably sourced fungi as a meat alternative has raised $4.25 million in seed funding led by True Ventures and Collaborative Fund. Terramino Foods makes meat and seafood alternatives from fungi based protein and claims that the meat alternative has the same texture and taste as its real-life counterparts.

Founded by Kimberlie and Joshua Nixon, the company sources sustainable fungi as an alternative form of protein. As their first product to market Terramino will produce a “Salmon” burger that is said to taste, look and smell like the real thing.

“Our fungi naturally grows in a fibrous texture that feels like meat when you chew it,” said Mr Nixon, co-founder and chief technology officer.

Following the new injection of funding, Terramino plan to expand the team and develop more natural, non-G.M.O. and animal free food products.

The sustainable fungi start-up is just the latest plant-based food company to be picked up by Collaborative Funds investment portfolio. Collaborative Funds who describe themselves as a “leading source of capital for entrepreneurs pushing the world forward”. The company has also invested in alternative meet brands Impossible Foods and Beyond Meat, as well as plant-based beverage companies Just and Ripple Foods.