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Financing › Details

ProteinDistillery–SEVERAL: investment, 202403 seed financing round €15m (incl credits/grants?) led by Green Generation Fund + Startup Family Office

 

Period Period 2024-03-07
Organisations Money taker ProteinDistillery GmbH
  Money source SEVERAL
Products Product Prew:tein™
  Product 2 venture capital
Person Person Dorfner, Peter (Green Generation 202403 Prinicpal at Green Generation Fund)
     

ProteinDistillery GmbH. (3/7/24). "Press Release: ProteinDistillery Raises €15 Million in Seed Funding". Esslingen & Berlin.

Fueling Innovation

ProteinDistillery is excited to share a significant achievement in our journey. Our inaugural seed funding round has successfully raised over 15 million euros, propelling us forward in our mission to transform the food industry with innovative plant-based and clean-label protein ingredients. This funding will serve as the catalyst for pushing the boundaries of food innovation and executing our market entry strategy, revolutionizing how we approach nutrition. We express our gratitude to our investors who share our vision for a healthier and more sustainable future.


Empowering Change

At ProteinDistillery, our passion lies in redefining protein ingredients by harnessing the power of nature through cutting-edge technology. With the seed capital, we take bold strides to empower food companies to adopt authentic alternatives to animal-based foods as the new norm. This includes providing them with essential tools and ingredients in ample quantities. Strategically deployed, the funding will support company growth, market entry, crucial partnerships in the food industry, and the launch of Europe’s first protein-competence center in Southern Germany, in Heilbronn.


Support from Visionary Investors and Industry Partners

We are proud and humbled to have gained the trust of our lead investor, the Berlin-based Green Generation Fund, a leading Impact VC in FoodTech, and the Startup Family Office with close ties to the German Mittelstand in Southern Germany. This funding is complemented by industry-aligned Business Angels, including Wendelin Wiedeking, experts in industrial and process engineering, and financial experts joining our exciting journey. Financial agreements through Sparkasse Esslingen-Nürtingen, along with governmental support, provide essential funding. Their backing and expertise are integral to propelling ProteinDistillery to new heights.

“Our investment underlines Green Generation Fund’s strategy to back founders turning university research into commercial solutions. The team around Christoph, Marco, Michael, and Tomas proved their ability to bring lab innovation to a scale relevant for top-tier food industry clients.” (Peter Dorfner, Principal and Advisory Board Member)

“Transforming waste into value is a crucial strategy for breweries aiming to optimize their resources and unlock new revenue opportunities, that is why we are fully supporting ProteinDistillery’s project.” (Dr. Mark Schneeberger Senior Director Product Development, Design & Research, GEA’s brewery division)


A Sustainable Protein Revolution

At the core of ProteinDistillery’s product portfolio is Prew:tein™ (patent pending), a highly functional, plant-based, and non-novel food protein ingredient made from upcycled brewer’s yeast. This groundbreaking product, serving as a clean-label alternative to egg whites, has the potential to disrupt the market for various functional ingredients. We managed to create an ingredient with exceptional nutritional and functional properties (such as binding, emulsification and taste enhancement), making it a versatile solution for the most important food applications, including Meat Alternatives, Dairy Alternatives, Egg Replacement, and Baked Goods. With this seed funding, we commit to maintaining and enhancing the properties of our protein, as well as laying the groundwork to upcycle by-products from our production.


Looking Ahead

The successful funding round marks a pivotal moment in our journey, providing the means to implement our business plan through hard work and determination. We are dedicated to leveraging this investment to its fullest potential, driving innovation, fostering collaborations, and promoting sustainable diet change. Moving forward, our focus remains on providing clean, functional, and sustainable protein ingredients for a healthier and environmentally friendly food system.

“Looking ahead, we aim to set up an industrial-scale production facility with the capacity to produce several thousand tons of protein each year. Achieving this goal requires a carefully crafted financing strategy. Considering our strong track record and deep relationships with influential industry leaders, I am very confident in ProteinDistillery’s potential to significantly boost Germany’s standing in the biotechnology sector.” (Marco Ries, Co-Founder and Managing Director)


Acknowledgements

We extend heartfelt gratitude to our investors, partners, and the entire ProteinDistillery team without whom this journey would not have been possible. Their constant encouragement and sponsorship have propelled us this far. The funding round is a testament to the disruptive future potential of ProteinDistillery and the power of innovation. We invite you to join or continue being a part of our journey to sustainably feed the world’s population.

For media inquiries or further information, please reach out to us at press@proteindistillery.com. Additional visual content can be found here.

   
Record changed: 2024-03-11

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