Innomy raises €1.3m to develop alternative protein sources based on mushrooms

Amsterdam, September 22, 2022: Rockstart, global early stage investor and accelerator, announces its investment in the Spanish food tech startup Innomy. The €1,3m round was led by Corporación Cervino, Zubi Capital, Eatable Adventures, the National Center for Technology and Food Safety (CNTA) with Rockstart as a co-investor. The investors have taken equity stakes in the company to scale the startup’s disruptive technology and promote a more sustainable and healthier protein consumption alternative.  

The leading Argentinian team, composed by CEO and co-founder Juan Pablo de Giacomi, biotechnologist COO and co-founder Pablo Sánchez Rey, and mycologist CSO and Technology Partner Francisco Kuhar, has dedicated years of research to the properties of mushroom-based proteins and their benefits for the health of people and planet. 

In the context of the current global environmental and demographic challenges, meat alternatives, such as mycelium, are an effective solution to reduce meat production effects, which are responsible for almost 60% of all greenhouse gasses generated by food production, according to FAO data. Mycelium, a filamentous, protein-rich ingredient extracted from the root structure of mushrooms is considered to be one of the most promising sources of protein for the future. Its quality in terms of nutrition was recognized by scientists a long time ago, but its current production for human consumption is not yet widespread. Furthermore, the fact that fungi do not produce cholesterol or significant amounts of saturated fats has redirected the attention of the food industry towards them.

 We were born as a platform to channel many years of research in the field of the properties of edible mushrooms. Our mission is to respond to consumers that demand good food products for their health but also for the planet's wellbeing. We want to reach new markets and bring our product to thousands of people. Juan Pablo de Giacomi, CEO and founde, Innomy
 We are very proud to be part of this new milestone that consolidates the leadership of the Spanish food tech ecosystem. In the last few months, we have managed to raise Funding rounds of an average of 1.8M for three of the startups that have been selected in our acceleration program. We continue to bet on disruptive technologies that impact the way food is produced and consumed, ensuring food safety for all.  José Luis Cabañero, CEO and founder, Eatable Adventures
At Rockstart, purpose driven and determined founders are central to our investment selection. In the case of Innomy, the founding team is composed of specialists in mycelium and have all shown amazing commercial insight and humble curiosity during the mentor sessions throughout our accelerator program. We are delighted to make our second investment in the company. Mark Durno, Managing Partner AgriFood, Rockstart 
With the entry into the capital we formalize the collaboration we have maintained in recent years to develop Innomy's proprietary technology. And now, with this financial injection, it will be possible to bring this technology to the market and continue contributing to transforming the future of food to make it healthier, more sustainable, safer and available to everyone.  Héctor Barbarin, CEO, CNTA.

Innomy is the third foodtech Spanish startup announcing its first funding round after successfully completing the Rockstart AgriFood acceleration program and Spain Foodtech program developed by Eatable Adventures, in collaboration with ICEX Spain Export and Investment and the National Center for Technology and Food Safety (CNTA).

– ENDS- 

 

About Innomy 

Innomy is a platform of finished mushroom-based products that developed a new generation of meat alternatives combining mushroom tissues and biotechnology, replacing meat with healthier, more sustainable and delicious foods. The Argentine startup based in Bilbao, Spain, was born in 2021, and after the closing of its first round of investment, they plan to promote the development of their products as well as their arrival in new European markets.

 

About Eatable Adventures 

Eatable Adventures is one of the most relevant food-tech accelerators in Europe and Latam with more than 25 corporate programs launched, a deal flow of 2,200 global food-tech startups each year and operations in four continents. In 2021 Eatable Adventures launched a €50M fund for investing in early-stage food and agriculture tech startups across Europe and Latin America. 

Eatable Adventures detects, promotes and invests in the most disruptive startups that promise a relevant impact on the agri-food value chain, by developing and implementing successful collaboration models with leading companies in the food industry, generating innovation opportunities at high speed.

About Rockstart

Rockstart is an early stage investor that empowers purpose-driven founders across three domains: Energy, AgriFood, and Emerging Technologies.

Rockstart invests in early-stage startups from each of the three funds and provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network.

Rockstart has invested in more than 340 startups and its alumni value to date is more than €1.3bn. Rockstart is an international team of 45+ professionals dedicated to empowering purpose-driven founders to become scalable and drive positive change on a global scale. Rockstart has notable exits such asWercker, Dan.com, Hubs.Com, Bouw7, iClinic, and s and Brincr. The company has offices in Amsterdam, Copenhagen, and Bogota

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