ProteinDistillery raises €15m in seed funding

ProteinDistillery has raised over €15 million in its inaugural seed funding round, supporting its mission to transform the food industry with plant-based and clean label protein ingredients.

The funding will help the German food-tech start-up to execute its market entry strategy, which aims to revolutionise the food system’s approach to nutrition and empower food companies to adopt authentic alternatives to animal-based foods as the norm.

This includes harnessing cutting-edge technology to provide food manufacturers with essential tools and ingredients required to shift toward a more sustainable future.

Once deployed, the €15 million will support company growth, market entry, food industry partnerships, and the launch of a ‘protein-competence’ centre in Heilbronn, southern Germany.

The round was led by Berlin-based Green Generation Fund, an impact venture capital in food-tech, and the Start-up Family Office with close ties to the German Mittelstand in southern Germany.

At the core of ProteinDistillery’s portfolio is Prew:tein, a patent-pending functional plant-based and non-novel protein ingredient made from upcycled brewer’s yeast. It serves as a clean label vegan alternative to egg whites and is described as a versatile solution, suitable for wide-ranging applications including meat and dairy alternatives, egg replacements and baked goods.

According to the start-up, Prew:tein excels in nutritional and functional properties such as binding, emulsification and taste enhancement.

With the funding, ProteinDistillery is committing to maintaining and enhancing the protein ingredient’s properties, as well as laying the groundwork to upcycle by-products from its production.

Marco Ries, co-founder and managing director at ProteinDistillery, commented: “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.”

He added: “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”.